Overview- EUR/USD's recovery from 1.17 level has faced the first hurdle
yesterday and so far, bulls have not been able to take out the 1.19 key resistance level.
Let us analyze and look at a possible sell signal for EUR/USD.
Analysis - From the chart, you can see that a bearish daily candlestick has
formed at the key 100-day moving average level. Price has closed below the 1.19 level
which is a negative sign for the bulls. If the buyers are unable to take the price beyond
1.19 today, bears will most likely dominate the price action in this pair in the near-term.
Probable trade set-up - Based on the above analysis, selling EUR/USD between
1.1875-1.1905 with Stop loss above 1.1930 and TP1 at 1.1805 and TP2 at 1.1710 is a
probable sell signal for this pair.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
yesterday and so far, bulls have not been able to take out the 1.19 key resistance level.
Let us analyze and look at a possible sell signal for EUR/USD.
Analysis - From the chart, you can see that a bearish daily candlestick has
formed at the key 100-day moving average level. Price has closed below the 1.19 level
which is a negative sign for the bulls. If the buyers are unable to take the price beyond
1.19 today, bears will most likely dominate the price action in this pair in the near-term.
Probable trade set-up - Based on the above analysis, selling EUR/USD between
1.1875-1.1905 with Stop loss above 1.1930 and TP1 at 1.1805 and TP2 at 1.1710 is a
probable sell signal for this pair.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.