The EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a bearish channel pattern. This technical indicator often suggests a trend continuation, potentially leading to further declines in the coming minutes or hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.0850, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels:
1.0815: This represents the height of the channel, measured from the top trendline to the breakout point, projected downwards from the breakout point.
1.0796: This is achieved by adding the height of the channel to the breakout point. These targets act as potential support zones that could see selling pressure.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 1.0865. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.0850, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels:
1.0815: This represents the height of the channel, measured from the top trendline to the breakout point, projected downwards from the breakout point.
1.0796: This is achieved by adding the height of the channel to the breakout point. These targets act as potential support zones that could see selling pressure.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 1.0865. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you.
Trade active
Hawkish Fed expectations: The market anticipates the Federal Reserve (Fed) to maintain its hawkish stance on monetary policy, potentially further strengthening the USD.Trade closed: stop reached
Eur/Usd - 15 Pips loss today 📣📣
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👉👉 Join My Free Telegram Channel :
✳️ Forex Technical Charts : telegram.me/kabhifx
📞📞Telegram me @t.me/kabhidhan
✳️ Forex Technical Charts : telegram.me/kabhifx
📞📞Telegram me @t.me/kabhidhan
Related publications
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.