Forex Signals

EURUSD: Heading towards the South

EURUSD produced a bearish candle on the daily chart Friday. The 15 M chart shows that the price made a bearish correction to start its trading day today. It found its resistance at 1.21380 and made a bearish move. It made a breakout at the level of 1.2110 by producing a good-looking bearish Marubozu candle. The pair produced one more bearish candle and then consolidated around the level of 1.21000. Upon producing a bearish Pin Bar, the price seems to get more bearish. It may head towards the level of 1.20700 with good bearish momentum. The price may consolidate or make a bullish correction around the level before finding its next direction as far as the 15M chart is concerned.


Trade Summary:

Entry: 1.21002

Stop Loss: 1.21002

Take Profit: 1.20802

The risk for the trade per standard lot is $100, Mini lot $10 and Micro lot $1. The risk-reward is 1:2. Thus, the reward for per standard lot is $200, Micro lot $ $20 and Mini lot $ 2.


By Tareq Sikder

Tareq Sikder has been engaged with Forex trading as well as Forex writing since 2010. He mainly is a Technical Analyst and a Price Action Trader. He is an author of E-book, a Live Webinar Speaker. Expertise: Candlestick, Channel Trading, Fibonacci Trading.

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