EURUSD Potential Bearish Shark Formation And Short Opportunity
Pair / Instrument: EURUSD
Time Frame: H1
The trend in the Timeframe: BULLISH
The trend in the Daily Chart: NEUTRAL
Description: After disappointing US PPI data, EURUSD broken the shorter term bearish trend. 1.16550 is the main resistance. If the pair breaks above 1.16500 resistance 1.16800 and 1.17200 will be the next target of the pair. Bearish Shark Pattern would be completed at D. Potential Bearish Reversal.
Trade Based On:Bearish Shark Pattern
Recommended Lot Size: 0.03 at 1.000K
AREA OF THE ENTRY: 1.17250 – 1.17400
STOP LOSS : Above 1.17650
TARGET 1: 1.16900
TARGET 2: 1.16500
TARGET 3: 1.15600
Update : Price moved as we predicted and hit the area of the entry. Short trade executed and hit the first target. 100 pips generated so far.
Update 2: We have reached the second target of our short trade. 140 Pips So far. We have published a new forecast as well. EURUSD Forecast
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
EURUSD Bearish Shark: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibilit