EUR/USD - Price Has Reach Trendline, Bounce of Break?

11. Juni 2020

Hello Traders!,
Coming to the end of this trading week, we've seen a lot of fundmentals move the market with the FOMC interest rate decision, USA jobless claims and GDP reports m/m for countries such as Japan and Great Britain.
What Is The Market Telling Us?

• On the higher timeframe we still see strong bullish sentiment, although there has been strong rejection around the 1.4000 level
  
• Our current timeframe we see price rejected 3 times at our resistance zone, bringing it down to our previously respected trend support
  
• There is a bearish cross with the 14EMA sloping significantly, which can indicate a break of our trendline support
  
• Although, overall market environment is bullish, therefore if we see a third bounce off our trendline, bullish sentiment is still validated
  

When Should We Enter?]

• Since we have 2 different scenarios, for our BUY side, we should wat for a clear bullish candle/signal upon touching our trendline support
  Before we look to SELL, there must be a break of our trendline, followed by a clear pullback with bearish signal ahead
  

12. Juni 2020

Trade geschlossen: Ziel wurde erreicht

Reached my 50PIP target, then price seemed to reverse and break trendline support