Last week, we saw EURUSD rally a bit. In fact, it has actually broken through the 100D EMA and managed to stay above it. So, one might assume that the TREND in EURUSD has now reversed to BULLISH.
However, in the past few months, every single rally has been SOLD OFF. So, it would be too early to assume that EURUSD has reversed.
Hence, it would be wise to watch the PRICE ACTION carefully.
If we see the formation of BEARISH CANDLESTICK PATTERNS in lower time FRAME, Traders can look for SELL between 1.1335-1.1350 with SL above 1.1380. Tps can be set at 1.1250 and 1.1180 respectively.
However, in the past few months, every single rally has been SOLD OFF. So, it would be too early to assume that EURUSD has reversed.
Hence, it would be wise to watch the PRICE ACTION carefully.
If we see the formation of BEARISH CANDLESTICK PATTERNS in lower time FRAME, Traders can look for SELL between 1.1335-1.1350 with SL above 1.1380. Tps can be set at 1.1250 and 1.1180 respectively.
Trade closed: target reached:
Closed all at 1.1205.