What's up investor friends?
Yesterday we were analyzing the EUR/USD and found it inside a small channel visible on 1 hour candles between the 1.1800 and 1.1760 price levels.
1-hour candles
The bulls tried to regain the 1.1800 level but failed. So I proposed the following bearish scenario:
1-hour candles
If a break of the 1.1760 support occurred, the next target would be the 1.1700 support. And this is exactly what has been happening for a few hours now. The pair managed to break 1.1760 and is currently at 1.1725.
1-hour candles
I recommend those traders who have taken this trade to move their stop loss to the entry point and let profits run to 1.1700, where would be the best exit point.
Good luck to you all, investor friends! 馃挭
Disclaimer
The information given in this article is only my analysis and personal opinion. Be sure to do your own analysis and research. Trading cryptocurrencies, forex, commodities, etc, is risky.