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EURUSD: Found Resistance at 1.0770 | January 25, 2017



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Eurusd has touched the upper level of the rising wedge pattern. 1.0770 level has become resistance level for this pair. Below this resistance, we can look for sell entry. It sees that this pair has lost its bullish momentum which results it can't break the resistance level now. So for short time, we should go for sell.

Sell trade setup
⌛ Below 1.0770 level, look for sell entry.
⌛ If any bearish candle formed below this level, open sell position.
⌛ Bearish candle should be formed on H1, H4 below the resistance.
⌛ Near 1.0740-50, if any pin bar, rejection candle formed, then go for sell entry.
⌛ SL will be above 1.0775 level
⌛ First TP will be 1.0710, Second TP 1.0650 level.
⌛ If you get 30 pips profit, then close 50% position of your trade and move your SL on the entry point.

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