EURSGD relies on perfectly flat daily support
The Euro is backed by perfectly flat daily support at 1.5880 from the Singapore dollar. A breakout of this level will serve as a good signal to open a short position. It is necessary to wait for the right moment. The price has a small power reserve that will allow us to earn 50 pips. The MACD indicator is above the zero levels, the price is below the 200 simple average. Therefore, there is reason to expect the downtrend to continue.
Order Type: Pending Order - Sell Stop
Entry Price at 1.5880
Take Profit at 1.5830
Pips Earning: 50
Forex trade strategy and trading signals for major currency pairs:
EURUSD sell at the price of 1.1745
USDJPY buy at the price of 110.25
GBPUSD sell at the price of 1.3705
USDCHF buy at the price of 0.9195
Trading recommendation result
The profit can be $377.36 if the trading volume of 100000 EUR (1 Lot).