EURUSD 250 Drop expected will it reach 1.15000 ? for FX:EURUSD by velmunis — TradingView

—————-❇️——————-

Detailed analysis 💬

1️⃣ Rising channel breakout – H4

2️⃣ Retest was expected around 1.17500

3️⃣ Risk off mode and Rising of virus infection around the Europe

4️⃣ 1.18000 Key psychological resistance

5️⃣ Price came within the downtrend channel

6️⃣ False bullish breakout

7️⃣ Technical support – Bear

8️⃣ Price is under POC-VOLUME

9️⃣ September low-Immediate resistance

🔟 Strong DXY- Upward pressure- Negative for Euro

#️⃣ Overall bearish trend

—————-❇️——————-

📉 Technical bias-H4-Bearish

Below 50,100,200 Exponential moving average

100,200 acting as immediate resistance,Possible entry point-1.17500

Relative strength index – Around 30- oversold rebound expected

MACD -Still below the middle line, Red zone territory,Oscillators pointing downward

Stochastic – Reached below 25 level -Short term bullish trend

Ichimoku cloud -cloud is turned red-Cloud resistance

Bollinger band- Price is around lower band-Minor rebound expected

—————-✳️——————-

Key reversal area’s

1.19000 Key psychological level

1.18850 October month high

1.16085 September low

1.15000 Key psychological level

1.17000 immediate resistance

1.17650 Possible entry- Bear

—————-✳️——————-

Bearish entry #EURUSD

Entry price – 1.17650

Take profit 01 – 1.16810 (85 pips)

Take profit 02 – 1.16100 (155 pips)

Take profit 03 – 1.15100 (255 pips)

🚫 Stop lose 1.18150 (50 pips)

⬇️ 2.08% Drop expected

⤴️ Account growth 0.43 : 2.08

✅ Risk reward ratio 1 : 4.5

—————-⚜️——————-

Push the like button , And cheer up if you found useful