Currently, EUR/USD is trading at 1.1266. The pair may start a new down trend if it breaks the at 1.1221. The pair is now consolidating in the resistance and support levels. If the price breaks the then it may start a new down trend and its target price will be at 1.0965, the stop loss price will be at 1.1349.
Follow a 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.
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.