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Wednesday, December 30, 2020

EURUSD on strong resistance

EURUSD on strong resistance

EURO / U.S. DOLLAR FX_IDC:EURUSD

Hello traders as we can see on daily chart that price is on edge to test a strong resistance from 2015 around 1.23000. For sake of our confirmation along with resistance we also see price is between 61% and 50% of fib level which may also help us to consider this as our second confirmation to take a SELL trade on this pair. Price is already near the resistance line you can take a trade with well calculated risk to reward as you are getting bit earlier in it or either you can wait a bit until price gets near 1.23100 area and slows down then monitor it on 1 Hour chart if it's momentum slowed down you can open from this area and hopefully it will fall.

Traders if you liked this idea give it a like, comment and follow for more ideas.



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