Greetings, frenzy traders!
Today, we're setting our sights on EUR/USD, where a compelling short position opportunity is taking shape on the 1D chart timeframe.
Analysis:
Our analysis points to a persistent bearish bias in the EUR/USD pair.
The confluence of technical factors, including resistance levels and moving averages, suggests potential downside continuation. As price action evolves, we've identified a zone of interest for opening short positions.
Strategy:
For our short position, we are going to take advantage of the downward momentum.
- Opening short: within the range of 1.074 to 1.077.
- Target TP1: 1.0630, offering a feasible profit-taking opportunity.
- Target TP2: 1.050 which could lead to further returns if the bearish trend intensifies.
Risk Management:
It's crucial to implement a well-defined risk management strategy. Place a stop-loss order above 1.073 to safeguard against unexpected price reversals.
Caution:
While the analysis suggests a potential short position, keep in mind that the forex market is influenced by various factors, including economic releases and geopolitical events. Stay informed and adaptable to changing conditions.
Today, we're setting our sights on EUR/USD, where a compelling short position opportunity is taking shape on the 1D chart timeframe.
Analysis:
Our analysis points to a persistent bearish bias in the EUR/USD pair.
The confluence of technical factors, including resistance levels and moving averages, suggests potential downside continuation. As price action evolves, we've identified a zone of interest for opening short positions.
Strategy:
For our short position, we are going to take advantage of the downward momentum.
- Opening short: within the range of 1.074 to 1.077.
- Target TP1: 1.0630, offering a feasible profit-taking opportunity.
- Target TP2: 1.050 which could lead to further returns if the bearish trend intensifies.
Risk Management:
It's crucial to implement a well-defined risk management strategy. Place a stop-loss order above 1.073 to safeguard against unexpected price reversals.
Caution:
While the analysis suggests a potential short position, keep in mind that the forex market is influenced by various factors, including economic releases and geopolitical events. Stay informed and adaptable to changing conditions.
Trade closed: target reached:
Target TP1 reached!
Trade closed: target reached:
Target TP 2 reached