Key Resistance Level: This zone marked on chart historically acted as a significant resistance level in the EUR/USD pair. While the overall trend might be upwards, targeting a reversal from this resistance level can be a viable strategy. Price action near this level could trigger a bearish reversal or increased selling pressure.
Overbought Conditions: Assessing...
EUR/USD has been falling since the beginning of the month and it looks like it is not going to stop:)
I suggest you to use this movement to our advantage and recommend to open a short position from 1.07130. Stop loss 1.07730 at the level of the breakdown of the Moving Average (50).
First target: 1.06400 (local resistance)
Main target: 1.05330 - local minimum from...
EurUsd we are in a downtrend creating HL and LL, now what we expect to happen is to fall to the area 1.20527 where LL will be formed and in that area is also our target.
hello again dear traders
I updated my mind about the eurusd based on the new channel but we have good targets down here the blue zone is the best target you can have for short .
and you should consider the possible pullbacks.
after all we have a red zone at the middle of this channel and it can be touched before you set a short position
good luck
