Euro / U.S. DollarShort
EURUSD - Bearish Reversal - 20/05/2024
EURUSD has been trading in a strong Bullish Trend, following which, a strong Bearish Divergence has been observed on the 1 hour RSI.
The divergence has pushed the price action down, which currently seems to be printing new lows - a potential reversal into a strong Bearish trend.
If the price action breaks out the 1.08215 level, the price could continue in a downtrend towards the 1.06887 level.
Trade Plan: Short
Entry: 1.08169
SL: 1.08812
TP1: 1.07537
TP2: 1.06887
The divergence has pushed the price action down, which currently seems to be printing new lows - a potential reversal into a strong Bearish trend.
If the price action breaks out the 1.08215 level, the price could continue in a downtrend towards the 1.06887 level.
Trade Plan: Short
Entry: 1.08169
SL: 1.08812
TP1: 1.07537
TP2: 1.06887
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