BluetonaFX - EURUSD Descending Triangle SHORT Idea
Hi Traders!
EURUSD is near its lowest level in three months. There is a descending triangle formation on EURUSD, and there is a possibility of a breakout to the downside.
Price Action 📊
The market is in a descending price channel with lower highs and lower lows, creating a descending triangle pattern on the chart.
We are looking for a support break and a close below the 1.06352 level.
Fundamental Analysis 📰
The market's outlook on USD is very positive due to strong economic data recently released. Out of all major economies, the US economy currently looks to be the strongest, and demand for the US dollar is high.
Support 📉
1.06352: THREE-MONTH LOW
Resistance 📈
1.06718: PREVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
EURUSD is near its lowest level in three months. There is a descending triangle formation on EURUSD, and there is a possibility of a breakout to the downside.
Price Action 📊
The market is in a descending price channel with lower highs and lower lows, creating a descending triangle pattern on the chart.
We are looking for a support break and a close below the 1.06352 level.
Fundamental Analysis 📰
The market's outlook on USD is very positive due to strong economic data recently released. Out of all major economies, the US economy currently looks to be the strongest, and demand for the US dollar is high.
Support 📉
1.06352: THREE-MONTH LOW
Resistance 📈
1.06718: PREVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Comment:
Market is approaching 1.06352 looking for a momentum break below.
Comment:
Momentum break below 1.06352 achieved.
Trade closed: target reached:
Target Area reached. Trade idea complete