EURUSD is bearish and it is below the key resistances and moving averages on all the important TFs.
So, I would advise you not to buy EURUSD.
I have been selling EURUSD when the price was at 1.11(Check out the ideas at the bottom).
However, the drop is not over yet. In my opinion, EURUSD will eventually drop to the previous low at 1.0640 and possibly even lower.
So, if the price reaches the top of the descending channel at 1.0870, that could be a good sell entry.
But, there is no guarantee that the price will reach that level. So, in this case, I will be looking at the 1.0820 area as a potential Sell Entry.
TPs will be at 1.07 and 1.06 with SL placed reasonably above 1.09.
So, I would advise you not to buy EURUSD.
I have been selling EURUSD when the price was at 1.11(Check out the ideas at the bottom).
However, the drop is not over yet. In my opinion, EURUSD will eventually drop to the previous low at 1.0640 and possibly even lower.
So, if the price reaches the top of the descending channel at 1.0870, that could be a good sell entry.
But, there is no guarantee that the price will reach that level. So, in this case, I will be looking at the 1.0820 area as a potential Sell Entry.
TPs will be at 1.07 and 1.06 with SL placed reasonably above 1.09.
