EUR/USD to the downside

Vladislav Brykin Cypher

EUR/USD Possible Downtrend

The pair is currently sitting in a supply zone, converging with a 61.8% Fibonacci retracement from the prior leg down - providing us opportunities for a possible sell off on the 1 HR chart.

We will be looking to execute a sell at current market price.

Should the pair break above the supply zone, and pass 1.09700 we will consider this trade void.

We will also look at the 1.07800 level as our first target.

Key Resistance Level (SL): 1.09700

Entry: 1.08800

Key Support Level (TP): 1.07000

Author

Vladislav Brykin

Cypher

Vladislav Brykin has been active in the financial markets, more specifically in the retail trading and fund management, since 2013. He has consulted and built products and systems for brokerages and investment firms.

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