EURUSD is moving down a narrowing tunnel

  • Jul 22 2021
  • by
  • Analyst AZA
EURUSD is moving down a narrowing tunnel

EURUSD is moving down a narrowing tunnel

The EURUSD currency pair is by far the most interesting to trade. If you look at other charts of trading instruments, you will see that there are no trends. Either trend reversals or sideways movements are visible. The EURUSD pair is moving downward along a narrowing triangle, and this fact gives reason to believe that the downward price movement may continue. There will be little money to make on this trade because the price has only 45 pips of power reserve to the next support level. We recommend opening a position when the level of 0.1750 is broken and placing a Take Profit order at the level of 0.1705 before the flat levels. The price is below the 200 average, but the MACA indicator does not show much power. Therefore, if the price starts to behave not according to the plan will be better to cancel the order or close the position.

Symbol: EURUSD
Order Type: Pending Order - Sell Stop
Entry Price at 1.1750
Take Profit at 1.1705
Pips Earning: 45

The profit can be $450.00 if the trading volume of 100000 EUR (1 Lot).


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