FXHighway
Short

EURUSD resumes the main bearish trend

FX:EURUSD   Euro / U.S. Dollar
250 6 3
Target: 1.0830
Risk: 1.1675

Technical Reasons:

The price succeeded to exit the sideways range by breaking its support line, and the next target is the recently recorded bottom at 1.1096.

The exponential moving averages 50 and 100 form negative pressure, and MACD offers bearish trend signals that reinforce the expected decline.


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your entry point? Risk: 1.1675?
Reply
FXHighway Casey_Yeo
1.1675 for longer term basis .. Gone short from higher places
Current setups could be taken from 1.1225 with risk above 1.1440
Reply
Casey_Yeo FXHighway
sorry i still dont get the 1.1675.
Reply
FXHighway Casey_Yeo
If you mean why did I choose the 1.1675 then here's the idea, at the chart; a scenario of drawing an inverted head and shoulders' pattern could be completed in case the price bounced upwards and hit 1.1675 ..

It is a supposed scenario , and that's why I took the 1.1675 as the critical point .

Here's the chart:

snapshot
Reply
Casey_Yeo FXHighway
Thank you.
Reply
FXHighway Casey_Yeo
No worries .. Thanks for your kind review
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