EUR/USD Moving in Resistance and Support Channel.
Currently, EUR/USD is trading at 1.1850. The pair is trading in a resistance and support channel for some time. It has rebounded after touching the support level and can touch the resistance level if it breaks the 1.1874 price level. So, accordingly plotted entry levels and target price. If the price breaks the 1.1874 level, it can start a new uptrend and its target price will be at 1.1996.
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