EURUSD keeps declining driven by its short term resistance line (drawn red on chart).
In view of this I establish a short entry setup right at the 50% FIBO retracement of 29/7 (1.10784) and yesterday's low of 1.0882.
The idea is well backed up by the fact that price is well below the 100 hour simple moving avg.
Sell limit @ 1.0980/85
SL is placed right above the a.m. resistance around 1.1030/35
Target is around 1.0880/85
Please note this is a short lived trading setup, if the trade not triggered before NY session close, it will be deleted !!
In view of this I establish a short entry setup right at the 50% FIBO retracement of 29/7 (1.10784) and yesterday's low of 1.0882.
The idea is well backed up by the fact that price is well below the 100 hour simple moving avg.
Sell limit @ 1.0980/85
SL is placed right above the a.m. resistance around 1.1030/35
Target is around 1.0880/85
Please note this is a short lived trading setup, if the trade not triggered before NY session close, it will be deleted !!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.