EURUSD Short Idea Gann Analysis Suggests Potential Downward
Hello everyone,
Based on my analysis using the Gann method, I believe the EURUSD currency pair is showing signs of downward movement.
Looking at the chart below, we can see that the price has recently broken through a support level at 1.0700 and is currently hovering around 1.0650. Additionally, the angle of the 45-degree line on the chart suggests that the trend is bearish.
I'm recommending a short position at the current price of 1.0650 with a stop loss at 1.0680 to limit potential losses. For the take profit target, I'm looking at a level of 1.0540, which is near a key support level on the chart. This would give us a potential profit of around 110 pips, with a risk-to-reward ratio of approximately 1:2.
Of course, as with any trading idea, there are risks involved and market movements can be unpredictable. Therefore, I encourage everyone to use their own judgment and analysis before entering any trades.
Let me know your thoughts and feedback on this idea, and I look forward to sharing more analysis and ideas in the future.
Based on my analysis using the Gann method, I believe the EURUSD currency pair is showing signs of downward movement.
Looking at the chart below, we can see that the price has recently broken through a support level at 1.0700 and is currently hovering around 1.0650. Additionally, the angle of the 45-degree line on the chart suggests that the trend is bearish.
I'm recommending a short position at the current price of 1.0650 with a stop loss at 1.0680 to limit potential losses. For the take profit target, I'm looking at a level of 1.0540, which is near a key support level on the chart. This would give us a potential profit of around 110 pips, with a risk-to-reward ratio of approximately 1:2.
Of course, as with any trading idea, there are risks involved and market movements can be unpredictable. Therefore, I encourage everyone to use their own judgment and analysis before entering any trades.
Let me know your thoughts and feedback on this idea, and I look forward to sharing more analysis and ideas in the future.