It is very near to the point where it will turn back and take a short trend until it meats the MA200 which acts as a variable support line.
Just wait for a pattern that indicates a trend reversal and go short, set the stop loss at a distance from the entry price between 41.55 and 55.4 pips. Good luck!
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Probably, next week the EUR/USD will continue its down trend but not before it will take a bullish direction on first day of trading.
I would wait the moment when it crosses back down the 1.10823 level, when I would enter the position with a stop loss at 1.11671 and profit take at 1.07768
The risk taken on this trade is 1 to 3.58, which is great.
This forecast...
