EUR/USD has obstacles on the upside

EUR/USD has obstacles on the upside

Trade idea

SELL at 1.1410; TP1 1.1385; TP2 1.1360; TP3 1.1315; SL 1.1440

EUR/USD is once again testing the October resistance line, upper daily Bollinger band, and the daily Ichimoku Cloud. Yesterday it formed a candlestick with a big upper wick, which indicates that there’s selling pressure near 1.1440.


On H4, all moving averages are horizontal, indicating a sideways market. It means that the pair will likely return at least to the middle of its recent range.



How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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