Hello traders, EUR/USD is trading at 1.2149. The price is trading in upward resistance and support channel and rebounding back from its . As the price has already rebound back from its , if it breaks 1.2146 price level it can touch . So, the entry price for short will be at 1.2146, first target will be at 1.2128 and second target at 1.2100.
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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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.