Bearish Trend in Focus!

17 Sep 2023

Despite the current bearish trend of the EUR dollar, there are still ways to profit from the market. After analyzing the weekly, daily, 4-hour, and 1-hour charts, I recommend two potential strategies.

For a shorting opportunity, the 4-hour chart's key resistance area at 1.0693 provides an excellent entry point. Setting an initial stop-loss at 1.0710 and a target profit of 1.0642, you could potentially earn 510 USD per lot. However, it's important to conduct your own analysis before making any decisions.

Alternatively, the 1-hour chart's bullish crab pattern with a bullish trend line presents an excellent buying opportunity. Waiting for a retest of the immediate support at 1.0650, with an initial stop-loss at 1.0630 and a target profit of 1.0672, could result in additional income. By spending just 15 minutes a day, you could potentially earn more.

It's important to remember that investing always carries some degree of risk, and it's crucial to conduct your own analysis. Do not blindly follow any advice.