Home Forex Market Analysis Forex Signals EUR/USD Downward Channel in Play – Sell Signal Update!

EUR/USD Downward Channel in Play – Sell Signal Update!


The strength in the U.S. dollar also dragged the EUR/USD pair lower to the 1.2175 level. For the moment, the EUR/USD is gaining support at the 1.2175 level, and below this, it can dip further until the 1.2130 level. On the higher side, the pair may face resistance at the 1.2216 level. The RSI and MACD support bullish correction, and these may cause a bounce off in the EUR/USD pair until the 1.2216 level. Below 1.2216, we can again see a dip in EUR/USD.

Entry Price – Sell1.21603
Stop Loss – 1.22003
Take Profit – 1.21103
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
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