EUR/USD May fall 50-100 pips
Price has broken out of the ascending channel and has formed a new downwards trend. Support at 1.0947. The 38% level on the fib has already been crossed, if the current trend continues, price is likely to go past this point.
Intraday - 4H
Trade: Sell
Entry 1.1005
Sell or Below: 1.1042
Target TP: 1.0947 & 1.0888
Pivot and Support 1.0947.
Alternative scenario:
Trade: Buy
Bur or Above: 1.1042
Target TP: 1.1090 & 1.1140
Price has broken out of the ascending channel and has formed a new downwards trend. Support at 1.0947. The 38% level on the fib has already been crossed, if the current trend continues, price is likely to go past this point.
Intraday - 4H
Trade: Sell
Entry 1.1005
Sell or Below: 1.1042
Target TP: 1.0947 & 1.0888
Pivot and Support 1.0947.
Alternative scenario:
Trade: Buy
Bur or Above: 1.1042
Target TP: 1.1090 & 1.1140