Only a break , of the current primary down trend Eur/usd downward channel would negate further moves to the downside.Fundamentally there is very little out of the euro zone supporting a stronger common currency, the only respite being a possibe further rate cut from the Fed, hence the 1.10000 level is not only significant resistance now , but the heavy price action at this price level resembles the price action that occured around the 1.12488 price level prior to a bearish breakdown , that commenced on the 06th of August 2019. A possible fake-out above the bearish channel could occur and pull a possible 10 to 20 pip range, only an engulfing candle break above 1.1020 would change the current bisad from bearish to bullish. The 1.1020 is the rough 61.8 retracement level of the eur based of the most recent impulsive move to the downside.
Possible TP levels are around 1.0900 and then trail stops from there , from channel support selling the euro you are always guaranteed a miminum of 90 pips -160 pips , hence if you entered sells . so anywhere from 1.10000 to 1.0850 would be fair game.
Possible TP levels are around 1.0900 and then trail stops from there , from channel support selling the euro you are always guaranteed a miminum of 90 pips -160 pips , hence if you entered sells . so anywhere from 1.10000 to 1.0850 would be fair game.