EUR/USD running out of steam; time to get ready for selling?
Overview- EUR/USD is consolidating between 1.1870 and 1.1925 for a few days now.
No major moves have taken place so far. However, it seems the bulls are running out of steam.
Let us analyze and see if there's a case for the sellers here.
Analysis - From the chart you can see the consolidation phase in EUR/USD. Even if
price breaks out of this consolidation phase, there's the potential reversal zone(PRZ) between
1.1940 and 1.1980 which will be a tough area for the bulls.
Probable trade set-up - Based on the above scenario, a sell trade between
1.1940 and 1.1980 with SL above 1.20 and TP1 at 1.1850 , TP2 at 1.1700 is a possible
sell signal for EUR/USD.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
No major moves have taken place so far. However, it seems the bulls are running out of steam.
Let us analyze and see if there's a case for the sellers here.
Analysis - From the chart you can see the consolidation phase in EUR/USD. Even if
price breaks out of this consolidation phase, there's the potential reversal zone(PRZ) between
1.1940 and 1.1980 which will be a tough area for the bulls.
Probable trade set-up - Based on the above scenario, a sell trade between
1.1940 and 1.1980 with SL above 1.20 and TP1 at 1.1850 , TP2 at 1.1700 is a possible
sell signal for EUR/USD.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
Comment:
Price has reached the PRZ