Trade Recommendation: EURUSD

The market is going to reverse from 1.20800 level. The price diverges with RSI and MACD histogram and it gives us a bearish divergence. This is a strong trend reversal signal. RSI confirms price reversal. MACD supports further downward movement. DMI allows open short trades. Pending orders should be placed below SMA20 at 1.20400 level. Stop orders can be placed above the resistance level. Profit target should be near SMA50 and support levels. Recommended trading volume for this trade is up to 3% from your deposit.

Market: EURUSD
Sell: 1.20400
Stop: 1.20950
Profit Targets: 1.19850

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.