EURUSD Trade Idea-05 Nov

EURUSD Trade Idea-05 Nov

05 Nov 2019 12:37 PM

JPYINR:- On a 4-hour chart - a double top pattern is seen - in which the 1st top has formed on 21Oct at 1.1179 while the 2nd top is slight lower at 1.1175. Prices fall after the 2nd top and is currently finds an immediate support at 50 period moving average - a move back to breakout zone is expected before another fall resumes - better to stay with trend and one can sell at a rally.

Our Preference:- Sell at 1.1140

Target- 1.1085

Stop loss- 1.1167