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MEX_Exchange

EURUSD major support broken, prepare for a drop

Short
Euro / U.S. Dollar (FX:EURUSD)  
MEX_Exchange  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD eurusdshort eurusdlong eurusdprediction eurusdforecast eurusdidea eurusdsignal eurusdoutlook eurusdtrade
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trendanalysis harmonicpatterns chartpattern eurusd eurusdshort eurusdlong eurusdprediction eurusdforecast eurusdidea eurusdsignal eurusdoutlook eurusdtrade
Sell below 1.2203. Stop loss at 1.2253. Take profit at 1.2089.
Reason for the trading strategy (technically):
Price has broken major support-turned-resistance at 1.2203 (Fibonacci retracement, horizontal pullback resistance) and we expect this to trigger a strong sell off that would push price down to at least 1.2089 support (Fibonacci retracement, horizontal pullback support).
RSI (55) sees a bearish exit of our ascending support-turned-resistance line signalling that we’ll likely be seeing some bearish momentum from here.
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