EURUSD Channel Down hitting its top. Sell opportunity.

5 hari laluThe EURUSD pair rebounded on Friday on its 4H MA50 (blue trend-line) and today the price is testing the top (Lower Highs trend-line) of the 3-week Channel Down pattern. This presents an strong sell opportunity on an excellent Risk/Reward ratio and the upside is limited to the top but the downside having much room to drop to the bottom of the Channel.

The previous Bearish Legs declined by -1.41% and -1.56% respectively. As long as the price is closing below the top of the Channel Down, our target will be the 1D MA50 (red trend-line) at 1.09900 (-1.26% from the top, negative progression relative to the previous Bearish Legs).

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