Euro / U.S. DollarShort
EURUSD, 4 hour timeframe, Bearish butterfly pattern on play
We could see price has been moving sideways for some time for EURUSD.
In my opinion there is a bearish butterfly pattern forming now and price pretty much exhausted.
There is a resistance at 1.1450 and price failed to break above it cleanly. At the same time, a bearish divergence can be spotted on stochastic so i am going to sell EURUSD from this point.
Sell EURUSD 1.1425
Stop loss 1.1470
Take profit 1 @ 1.1365
Take profit 2 @1.1300
good luck
In my opinion there is a bearish butterfly pattern forming now and price pretty much exhausted.
There is a resistance at 1.1450 and price failed to break above it cleanly. At the same time, a bearish divergence can be spotted on stochastic so i am going to sell EURUSD from this point.
Sell EURUSD 1.1425
Stop loss 1.1470
Take profit 1 @ 1.1365
Take profit 2 @1.1300
good luck
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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.