EUR/USD Heading for Our TP Target - Forex News by FX Leaders
EUR/USD is heading down now

EUR/USD Heading for Our TP Target

Posted Wednesday, September 11, 2019 by
Skerdian Meta • 1 min read

On Monday we opened a sell signal in EUR/USD as this pair was climbing higher. Although, buyers failed to take out the 100 SMA on the H4 time-frame chart which I highlighted yesterday for the second time, and this was a sign that they might give up soon.

They didn’t actually; they had another go at it yesterday and today again, but they have failed to break that moving average every time. On the H1 time-frame, we have the 200 SMA (purple) which has been doing that job in the last several days.

This moving average has been providing resistance and it did so twice today during the Asian session. That was a clear signal that the buyers were giving up and a reverse down was due soon, which has been taking place in the last few hours. Now EUR/USD is headed for 1.1020 where the take profit (TP) target is, so we’re getting ready for other signals once this one closes and releases some more equity for us.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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