Forex Intraday: EUR/USD “sell” opportunity

22.02.2019 / 10:07

Rating:

EUR/USD

Time frame: H1

Technical analysis: The pair is moving in a clearly defined short-term upward trend. Shortly before the start of the European session, the pair reached channel support, then pushed back, indicating that the upward movement is not over yet. As the main trend is in downward direction, it is more likely that the price will test the newly formed short-term resistance and from there continue its decline.

Indicators: The price is above 200 and 50 EMA, and for the moment the moving averages play a supporting role.

DeM - Is Reaching over-bought values, which supports the "sell" scenario.

Aggressive entry into a deal: Sell Limit at 1.1360 with a stop at 1.1375

Conservative entry into a deal: Sell only after breakthrough of short-term support (green trend line) with stop 1.1375.

Alternative Scenario: If the price breaks the short-term resistance formed at 1.1360 the price will continue to rise.

Trader Milko Zashev

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Forex Intraday: EUR/USD “sell” opportunity

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