Technical analysis
Mohamed Samy
EUR/USD is currently having a stong downtrend inside the marked bearish channel with its upper limit at 1.3150-1.3210.
The pair has a good resistance area at 1.3150-1.3210 which will act as a supply zone pushing the pair to resume the downside movement.
On the other hand, during the last two trading days, the pair has doubtfull weak bullish retracement targetting the marked resistance area.
On Monday we suggested to SHORT the pair at the resistance area 1.3150-1.3210 which got triggered today with profit till now.
The pair may revisit this resistance area which will be a second chance for those who missed the first one.
Our short positon should be kept towards its final target at 1.2850 with some profits taken each 75 pips to avoid reversal of price.
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