Home Forex Market Analysis Forex Signals EUR/USD Completes Retracement – Brace for a Bullish Correction! 

EUR/USD Completes Retracement – Brace for a Bullish Correction! 


The EUR/USD is trading with a bearish bias today at the 1.2248 level, having violated the upward trendline at the 1.2252 level. Closing of candles below this trendline confirms a breakout, and there’s a strong odd of selling trend’s continuation until 1.2203. The next support may be found around the 1.2175 level below this, along with resistance at 1.2258 and 1.2313. The 50 periods EMA is likely to extend resistance at the 1.2262 level, and supporting the selling trend in the EUR/USD today; however, we are taking a buying trade as the pair is forming Doji, and it may bounce off to continue trading bullish. 

Entry Price – Buy 1.226

Stop Loss – 1.222

Take Profit – 1.23

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

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