EURUSD has been trapped in this range since Feb. It has tested the 1.2400 Key level for many many times... and so far has failed to break it.
On Daily timeframe, 3 pins formation has been formed rejecting from the 1.2400 key level which gave me a sign to look for a sell signal.
Moving on to lower timeframe,
4H, we can see the double top formation and M.A crossing over to the downside
1H, the trend line has been broken and closed below. M.A crossed to the downside
If you want to be on the safe side you can also wait for the retest of the trend line before going short.
SL 1.2406
TP 1.2242
If you like this kind of analysis please like/comment/share, ill keep it coming!
Happy trading everyone!
On Daily timeframe, 3 pins formation has been formed rejecting from the 1.2400 key level which gave me a sign to look for a sell signal.
Moving on to lower timeframe,
4H, we can see the double top formation and M.A crossing over to the downside
1H, the trend line has been broken and closed below. M.A crossed to the downside
If you want to be on the safe side you can also wait for the retest of the trend line before going short.
SL 1.2406
TP 1.2242
If you like this kind of analysis please like/comment/share, ill keep it coming!
Happy trading everyone!
Comment:
Hit target for 110 pips