EUR/USD Price Outlook Further Declines are Possible... dari PhoenixMan

16 Oct 2020, 11:36 · Views 866

Currently, price is hovering near the 1.17 level. At this stage there could be some consolidation before the next big move.

There could also be some pullback before the next downtrend.

I am still expecting price to drop to the 1.1580 level where I will consider putting a buy trade.

However, I would wait for a pullback and then some bearish price action before putting new sell trades at this stage.

Good luck.

Telah diedit 16 Oct 2020, 11:38

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Hi guys. For the EUR/USD pair, the price is in the process of moving at the intersection of two channels. It recently bounced off a strong resistance zone (just at the intersection of the lines). And it fell. However, before reaching the support line, it began to grow again. I expect that the price will reach the resistance line, touch it but cannot break it (since there is another strong line nearby). And then going downtrend.

PhoenixMan

Hello everyone! Yesterday's trading session, the price for EUR/USD rose very strongly and it broke 3 Resistance lines. Now the price has stopped at the latter. I don't think it can continue to grow. I expect that after a sharp rise and breaking through 3 resistance lines, the price will stop. And then it will start falling from the resistance line to the support line at 1.16356. And this is a signal to sell. For TP, I will follow the support line and for SL its along the resistance zone. This is my own trade idea, trade on your own risk. Happy trading guys!

PhoenixMan

Hello everyone! the EUR/USD pair came to the support line and began to grow strongly. During the week of growth, it broke through several support lines at once. Now the price has stopped at the resistance line. I expect that the price to fall from this line. There is a support line in the middle of the channel. But the fact that before that the price showed strong growth indicates that it will be able to break this line. Good luck on trading guys!

PhoenixMan