FXTechs
Short

EURUSD Breaks Through Horizontal Support - Top In Place

FX:EURUSD   Euro / U.S. Dollar
EURUSD             has broken through horizontal support after a Head and Shoulders topping pattern earlier in the week. A top is now in place at 1.1450 and pair appears to have resumed it's down trend - we opened a small short position at 1.133 and added at the open. Aim is to fade into a much larger position targeting the multi-year lows, continuation. Pair has been declining at an average pace of 92 pips per day since the top was set.

Resistance at 1.1060, 1.11 with an invalidation above 1.120/descending trendline . Support is the ascending trendline at 1.0910, with a break lower targeting former resistance at 1.0745 and the multi year lows 1.0520 & 1.0468.

We managed to survive this bout of counter-trend buying through sitting out and most of our profits from the last trip down remain in tact. Holding short.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out