FX.co - EURUSD holding below descending trendline resistance, further drop expected!

2020-09-09T13:55:19

Relevance until2020-09-10

Price holding below descending trendline resistance and Ichimoku cloud. Price could drop from our 1st resistance towards 1st support at 1.1732.

Trading Recommendation

Entry: 1.1783

Reason for Entry:

38.2% fib retracement, descending trendline resistance

Take Profit: 1.1732

Reason for Take Profit:

161.8% fib retracement

Stop Loss: 1.1821

Reason for Stop Loss:

Horizontal swing high

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ EURUSD holding below descending trendline resistance, further drop expected!