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bogd

Good sell opportunity with a decent Risk reward ratio

Short
Euro / U.S. Dollar (FX_IDC:EURUSD)  
bogd  
FX_IDC:EURUSD   Euro / U.S. Dollar
EUR USD DAY EURUSD supportbreakout Moving Average Convergence / Divergence (MACD) Relative Strength Index (RSI) short shorteur Fibonacci
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eur usd day eurusd supportbreakout macd relativestrengthindex short shorteur fibonacci
A few things here
  • Broken support line
    MACD has just crossed and entered the sell zone, shown by arrow
    RSI has a broken pattern as well, indicated by the arrow
To set stop loss level, it is clear there is a strong resistance at around 1.075, as it bounced back down twice from this price, so 1.08 is a safe level
As for the Reward, Fib and previous structures show there is a potential turn around at about 1.05 (also because its a round number as well)

Let me know what you think guys :)
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