EURUSD – SELL – 12th June 2020

EURUSD – SELL – 12th June 2020 (Closed)

Good morning team,

Market sentiment is turning negative due to corona-virus fears. The market is anticipating a second wave in the US which potentially means USD safe haven plays.

The DXY has had a strong bounce on a key support zone meaning we could see further upside from its current level.

Please check telegram for the full fundamental update.

EURUSD Daily Charts

There is a rejection from key trend line resistance and resistance zone.

EURUSD – 4 Hour Charts

We have seen a 5 wave structure higher followed by a break of an inclining trend line.

Trade setup: SELL Market execution, current price 1.1291, stop loss 1.1392 and take profit target 1.1094.

Stop loss: 101 pips

Take profit: 197 pips

Trade Setup
SELL - Market Execution

Entry
1.1291

Take Profit
1.1094

Stop Loss
1.1392