EUR-USD ..... Risky Short.... From Resistance! Sell!

Hello,Traders!
EUR-USD made a an attempt
At breaking the horizontal
Resistance level of 1.108
On the FED's decision
But failed and I think that
We might see a local
Pullback from the area
(Be careful trading any USD pair today)
Sell!
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Comment:

As we examine the technical indicators, we can observe that the price is facing significant resistance at both the weekly R1 level at 1.109 and the 1.107 resistance area. Additionally, the daily and weekly pivot points are also located in this critical region, highlighting the importance of this level. On the fundamental side, there are various high-impact economic events that could potentially impact the EUR/USD pair's direction, such as the ECB Interest Rate Decision and the upcoming PMI data releases from several European countries.

Therefore, I propose a sell trade for the EUR/USD pair, with an entry point at 1.107, a stop loss at 1.1095, and a take profit at 1.0995.

By selling at the current resistance level, we can potentially benefit from the downward momentum if the price breaks below the critical support at 1.107. The tight stop loss above the weekly R1 level can help minimize potential losses if the trade does not go as planned. The take profit level at the weekly pivot point can offer a favorable risk-to-reward ratio for this trade.

Comment:

TARGET REACHED.
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Comment:

TARGET1 REACHED. 180 Pip.