EURUSD is tanking within a clean parallel channel. EURUSD is currently testing the channel's resistance trend line, a descending trend line from January 2021, and an overall resistance region (1.21500) where the pair has rejected price multiple times. With that in perspective, price is expected to drop after the current resistance level test and rejection. Entry Point at current resistance/ 1.21500, Stops at 1.22000 and Targets 1.20500 & 1.20000.
N.B. Trading ideas are subjective. Individual analysis advised.
N.B. Trading ideas are subjective. Individual analysis advised.