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AlgoVenture
Oct 25, 2019 8:57 AM

EURUSD: Continuation of Bearish Trend Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD, as explained in my previous post on 14th Oct, has continued to climb and reach the top of a 3-Month falling channel.
Since then, the price found resistance and moved sideways and at the same time, it broke below a rising trendline which signifies for a probable reversal.
Yesterday after Draghi's final speech, EURUSD came down steadily and reached 1.1100.
Retracement has taken place and traders can look for a selling opportunity from 1.1130 to 1.1120.

Comment

Target profit from 1.1020 to 1.1000
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