FX.co ★ EUR/USD

Hello traders. It can be seen from the chart that the currency pair EURUSD is currently in a downtrend, with the 120-period moving average on the H1 chart above the price, indicating a continuation of the downward movement. The priority of the southern direction is shown by the zigzag indicator, as there is a decrease in significant highs and lows. Confirmation of the downward movement is the hourly candle closing below the moving average at the level of 1.1470. It is preferable to consider selling rather than buying during the day. For sales, I am looking at the resistance level of 1.1470, with the first target at 1.1430 and the subsequent target at 1.1390, setting the stop loss at 1.1500. Buying is only advisable after the pair breaks through and consolidates above the price level of 1.1530. The take profit for purchases can be set at 1.1570, while potential losses should be fixed around 1.1500.

Now, for a more precise entry into sales, let's look at the fifteen-minute chart.