EUR/USD: A bearish reversal candle to drive the pair towards the South


EUR/USD has been bearish on the daily chart. Thus, today's intraday price action has been bearish. The price has made a downside breakout on the H1 chart. The sellers are to wait for consolidation and an H1 bearish reversal candle at the breakout level. If an H1 candle then breaches the level of 1.10260, the price may head towards the South with good selling pressure.

EURUSD

 

Trade Summary:

Entry: Below 1.10260

Stop Loss: Above 1.10390

Take Profit 1: 1.10095

Take Profit 2: 1.09965

Take Profit 3: 1.09815

Please Note

The bearish reversal candle itself may breach the level of 1.10260. That would be a better signal. If it takes two candles to make the breakout, the breakout candle is to close below the level of 1.10260 but must not go too far down. The price may hit Take Profit 1 and Take Profit 2 with a good pace but may take a while before hitting Take Profit 3.

 


 

Try Secure Leveraged Trading with EagleFX!

Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex Analysis

Editors’ Picks

EUR/USD breaks above 1.1100, first time since end-March

EUR/USD is breaking higher heading into European trading this Friday. The spot conquers the 1.11 handle for the first time since March 30 despite the risk-off market mood amid US-China tensions. Focus on EZ CPI and Trump's response. 

EUR/USD News

GBP/USD: Mildly bid above 1.2300 as UK enters Sino-American rivalry

GBP/USD probes intraday high after bouncing off lows near 1.2300. UK increases changes for China’s Huawei, offers citizenship to Hong Kong residents. EU’s Trade Chief says UK may have given up on Brexit deal. US President Trump’s presser will be key.

GBP/USD News

Cardano explodes over 1% in minutes, is $0.07 achievable on Friday?

Cardano is among the most active cryptocurrencies in the market this week. ADA/USD is exchanging hands at $0.0666 amid a battle to beat Thursday highs at $0.0680. On the other hand, the price has not been left behind especially after spiking by over 1% in a matter of minutes.

Read more

Gold pokes $1,721/23 resistance area

Gold prices extend the latest recovery from $1,711 as DXY refreshes two-month low. A confluence of 10-day EMA, nine-day-old falling trend line probes immediate upside. An ascending trend line from April 21 favors the bulls.

Gold News

WTI eyes record monthly surge

While West Texas Intermediate (WTI) crude's front-month contract has backed off from the 2.5-month highs reached earlier this week due to deteriorating US-China tensions, it is still on track to post its biggest monthly gain on record. 

Oil News

Forex Majors

Cryptocurrencies

Signatures