EUR/USD finds hurdle at the resistance, time for a drop?
Overview- EUR/USD has recovered over 200 pips after falling to 1.17 a couple
of weeks ago. However, the recovery might be coming to an end soon. Let's analyze and find
out a Sell signal for EUR/USD with entry, TP and SL
Analysis - Price has found resistance at the 100-day moving average level
just above 1.19. More resistance lies at 1.1980. So, it is quite likely that the trend will
reverse from here and EUR/USD will fall again.
Probable trade set-up - Selling EUR/USD@1.1900-1.1910 with SL at 1.20
and TP at 1.17 is a possible sell signal.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
of weeks ago. However, the recovery might be coming to an end soon. Let's analyze and find
out a Sell signal for EUR/USD with entry, TP and SL
Analysis - Price has found resistance at the 100-day moving average level
just above 1.19. More resistance lies at 1.1980. So, it is quite likely that the trend will
reverse from here and EUR/USD will fall again.
Probable trade set-up - Selling EUR/USD@1.1900-1.1910 with SL at 1.20
and TP at 1.17 is a possible sell signal.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.