Hey traders!
(This analysis was already shared with students)
EURUSD was the first one to move down last week before every other pair followed suit. It had a considerable lead vs other majors. Now it had retraced back to 0.38 FIB extension before resuming its downtrend. It looks like it is building a new downtrend channel as showed here in my chart.
MACD showing signs of weakness
RSI neutral
DXY somehow still bullish
Here's what I'm thinking :
EURUSD SHORT:
ENTRY : 1.1801
SL : 1.18811
TP : 1.15789
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
(This analysis was already shared with students)
EURUSD was the first one to move down last week before every other pair followed suit. It had a considerable lead vs other majors. Now it had retraced back to 0.38 FIB extension before resuming its downtrend. It looks like it is building a new downtrend channel as showed here in my chart.
MACD showing signs of weakness
RSI neutral
DXY somehow still bullish
Here's what I'm thinking :
EURUSD SHORT:
ENTRY : 1.1801
SL : 1.18811
TP : 1.15789
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Trade closed manually:
Closed this entry manually. We banked around 52 pips!