81 Pips profit in EUR/USD, more decline looks likely
Hello traders, EUR/USD went exactly as I had predicted in my previous
idea( Previous idea attached below). From my sell at 1.0746, the price is now
81 pips lower.
Currently, if you look at the daily chart, we have a bearish candlestick pattern
exactly at the confluence of the 100-day EMA and the top of the price channel.
A combination of these two factors could take the price even lower in the coming days.
Keep an eye on the hourly mav at 1.0665. If this breaks, it could open the door
to 1.06.
idea( Previous idea attached below). From my sell at 1.0746, the price is now
81 pips lower.
Currently, if you look at the daily chart, we have a bearish candlestick pattern
exactly at the confluence of the 100-day EMA and the top of the price channel.
A combination of these two factors could take the price even lower in the coming days.
Keep an eye on the hourly mav at 1.0665. If this breaks, it could open the door
to 1.06.
Comment:
1.0665 is the key level in the hourly chart. Price falling below it will signal further downtrend
Comment:
Fed chair powell speaks later in the day, might have some volatility then. If spikes happen, will consider selling it
Price getting some support on the hourly mav. Will re enter again if it goes to resistance