Selling opportunity in the EURUSD pair after a multi-timeframe analysis revealed the following convergences: - 4H: Fast-moving average acting as resistance. - 1H: Slow-moving average acting as resistance. - 15min: Fibonacci level (-0.236) acting as a point of exhaustion of the bullish momentum (pullback), thus indicating a potential bearish continuation.
In terms of risk management: - Take Profit: Level 1 will be set at the last trend's low. Level 2 will be positioned at the -0.236 Fibonacci level, this time applied to the larger bearish trend. - Stop Loss: 0.5 Fibonacci level of the bearish trend. (🇬🇧)
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