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.
Entry: Below 1.10260
Stop Loss: Above 1.10390
Take Profit 1: 1.10095
Take Profit 2: 1.09965
Take Profit 3: 1.09815
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.
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