BluetonaFX - EURUSD Trendline Support Break Bears Are In Control
Hi Traders!
EURUSD is trading with bearish momentum after a trendline support break on the 1H chart and is on a pullback, which provides potential opportunities for short entries to take advantage of the potential pullback to target levels near the daily and weekly low at 1.09202.
Price Action 📊
After the initial break and close below the support trendline, the market is now on a pullback near the swing high resistance level near 1.27466. Our plan here is to sell rallies and look for exits near the current daily and weekly low around the 1.09202 area.
Fundamental Analysis 📰
Later today, we have ECB President Lagarde speaking; therefore, we must be wary of her speech, as what she says may be potentially volatile, especially for EUR pairs.
Support 📉
1.09202: DAILY AND WEEKLY LOW
Resistance 📈
1.09840: DAILY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
EURUSD is trading with bearish momentum after a trendline support break on the 1H chart and is on a pullback, which provides potential opportunities for short entries to take advantage of the potential pullback to target levels near the daily and weekly low at 1.09202.
Price Action 📊
After the initial break and close below the support trendline, the market is now on a pullback near the swing high resistance level near 1.27466. Our plan here is to sell rallies and look for exits near the current daily and weekly low around the 1.09202 area.
Fundamental Analysis 📰
Later today, we have ECB President Lagarde speaking; therefore, we must be wary of her speech, as what she says may be potentially volatile, especially for EUR pairs.
Support 📉
1.09202: DAILY AND WEEKLY LOW
Resistance 📈
1.09840: DAILY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX