EUR/USD has broken down the 20 ema and 50 ema for the first time since the bullish trend on the 4h chart. Meaning that the trend is weakening and shifting of direction.
We have a valid continuation pattern further below if the 50 ema on the 4h chart holds as resistence.
As soon as the 1.16 level is broken, EUR/USD will continue its bearish trend.
One could enter this position by placing a pending order right below 1.16 say at 15.87.
First TP is at 1.1505 Second TP is at 1.1405
Trade safe!
Comment
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1.5787*
Comment
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1.1587**
Trade closed: target reached
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Position has been closed and profits have been secured. A little pullback is to be expected. Will be opening back my position once the next wave down begins.