Sell EUR/USD Channel Breakout

The EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a bearish channel pattern. This technical indicator often suggests a trend continuation, potentially leading to further declines in the coming minutes or hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 1.0850, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels: Initial bearish targets lie at the following levels:
1.0815: This represents the height of the channel, measured from the top trendline to the breakout point, projected downwards from the breakout point.

1.0796: This is achieved by adding the height of the channel to the breakout point. These targets act as potential support zones that could see selling pressure.

Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 1.0865. This helps limit potential losses if the price reverses and breaks back upwards.

Thank you.

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Hawkish Fed expectations: The market anticipates the Federal Reserve (Fed) to maintain its hawkish stance on monetary policy, potentially further strengthening the USD.

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Eur/Usd - 15 Pips loss today 📣📣