EUR/USD daily chart provides a nice short opportunity. The pair recently experienced a retracement as part of an extended downtrend, reaching the 70.00% Fibonacci retracement level and facing resistance at the 1.09957/1.09947 level. A confluence of technical variables in this way can serve as a potential reversal point and resumption of the underlying bearish trend.
Trading Strategy:
Entry: Sell short EUR/USD at or near the prevailing price (1.08361) on confirmation of bearish price action such as a rejection candle off the resistance point.
Stop Loss: Place a stop-loss order above the new high (1.12142) or at a judiciously chosen resistance level to manage risk.
Take Profit: Look for the following support levels as probable take-profit points:
1.07323
1.07286
1.06794
Trading Strategy:
Entry: Sell short EUR/USD at or near the prevailing price (1.08361) on confirmation of bearish price action such as a rejection candle off the resistance point.
Stop Loss: Place a stop-loss order above the new high (1.12142) or at a judiciously chosen resistance level to manage risk.
Take Profit: Look for the following support levels as probable take-profit points:
1.07323
1.07286
1.06794
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📊 Forex Signals | Free Daily Alerts
✅ 85% Accuracy | 1–2 Signals/Day
💰 Profitable Trades Sent Daily – No Cost
📲 Join Us on Telegram
t.me/ultreos_forex
🎯 Upgrade to VIP:
ultreosforex.com/
✅ 85% Accuracy | 1–2 Signals/Day
💰 Profitable Trades Sent Daily – No Cost
📲 Join Us on Telegram
t.me/ultreos_forex
🎯 Upgrade to VIP:
ultreosforex.com/
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.