Hi Traders!
EURUSD continues its bearish outlook as the market is now in a descending channel.
Here are the details:
After the double top on the higher timeframe idea (see link below), the market looks to have run out of steam to break the resistance level, which provides additional opportunities for short entries to target the support level at 1.08860.
We are now looking for a break and a close below the 20 EMA for a confirmation signal.
Preferred Direction: Sell
Entry Level: 1.09612
Stop Level: 1.09986
Target Level: 1.08860
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
EURUSD continues its bearish outlook as the market is now in a descending channel.
Here are the details:
After the double top on the higher timeframe idea (see link below), the market looks to have run out of steam to break the resistance level, which provides additional opportunities for short entries to target the support level at 1.08860.
We are now looking for a break and a close below the 20 EMA for a confirmation signal.
Preferred Direction: Sell
Entry Level: 1.09612
Stop Level: 1.09986
Target Level: 1.08860
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
