Currently, EUR/USD is trading at 1.1938. The pair is trading in an up trend from sometime by making higher high-higher low pattern. It may reverse back from its resistance zone which is at 1.2060. The pair may start a new down trend after rebounding back from its resistance zone, but for that it has to break the support level which is at 1.1880. It is possible that the pair may consolidate for some time before touching its resistance zone and before breaking its support level.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat