EUR/USD has pulled back from the strong resistance level at 1.15 and is now trading around 1.13.
For a confident continuation of the downtrend, a break below the 1.1260 level is required.
Could consolidation and a subsequent rebound occur at current levels? Yes, it's possible. Therefore, a position should only be opened after a confirmed break to the downside.
đź“ťTrading plan:
Open a short position upon a break below 1.1260. The target is 1.10.
For a confident continuation of the downtrend, a break below the 1.1260 level is required.
Could consolidation and a subsequent rebound occur at current levels? Yes, it's possible. Therefore, a position should only be opened after a confirmed break to the downside.
đź“ťTrading plan:
Open a short position upon a break below 1.1260. The target is 1.10.
Note
Reached the target level.I've closed the position.
Now it's important to watch how the market reacts to this level.
Will we break through and confirm a trend reversal, or will we bounce and head back up?
No need to predict - I'll let the market speak first.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.