EURUSD is at a premium level of resistance, where it is already forming a double top. The trend is still bearish and we are just going to be taking the bearish setup to provide for the deliberation of the correction. This is a risky setup which can garner us some good reward. We can take the position till the support level.

The ascending trendline is yet to be broken out for sells.

The EMA 50 is still trending bullish and we anticipate the market to drop down and pierce the EMA 50 towards the bearish side.

RSI is at 54. It needs to either fall below the 50 level or hop towards the over bought region from where the market can form a bearish divergence.

EURUSD is at a resistance

Nov 27 2023

Stop Loss -0.43%

Holding time 20hr

1.09490

Entry price

1.09964

Stop loss price