EURUSD, 4 hour timeframe, Bearish butterfly pattern on play
We could see price has been moving sideways for some time for EURUSD.
In my opinion there is a bearish butterfly pattern forming now and price pretty much exhausted.
There is a resistance at 1.1450 and price failed to break above it cleanly. At the same time, a bearish divergence can be spotted on stochastic so i am going to sell EURUSD from this point.
Sell EURUSD 1.1425
Stop loss 1.1470
Take profit 1 @ 1.1365
Take profit 2 @1.1300
good luck
In my opinion there is a bearish butterfly pattern forming now and price pretty much exhausted.
There is a resistance at 1.1450 and price failed to break above it cleanly. At the same time, a bearish divergence can be spotted on stochastic so i am going to sell EURUSD from this point.
Sell EURUSD 1.1425
Stop loss 1.1470
Take profit 1 @ 1.1365
Take profit 2 @1.1300
good luck