EURUSD Structural Resistance Test and Short Opportunity
Pair / Instrument: EURUSD
Time Frame: H1
The trend in the Timeframe: BULLISH
The trend in the Daily Chart: BEARISH
Description: EURUSD made 70 pips correction. Price reached the structural resistance level. 1.16100 – 1.16200. The pair is still below EMA 50 and under a bearish pressure. Possible bearish reversal at the resistance.
Trade Based On: Resistance Test
Stop Loss: 1.16550
Take Profit 1.15700
Take Profit 2: 1.15300
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
EURUSD: 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 responsibility