Trade Idea, 22 Feb: Sell EURUSD – Order cancelled. Nothing done.

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Sell EURUSD @ 1.0580

SL @ 1.0635

TP @ 1.0470

Trade Description: The Euro still looks heavy and although the hourly charts suggest the chance of a minor recovery, selling into rallies for an eventual break of 1.0520/25 support seems to be a plan, looking to take profit ahead of the next major support level; the Jan 3rd low at 1.0453, which ties in with the Fibo level, as per the 4 hour chart below.

This order is only good for entry purposes until 5.00 pm NY time today

This information is a personal view only, this being a trade being undertaken by FX Charts. It is not an inducement or recommendation to trade although you may do so if you agree with the parameters of this idea.. Refer to our disclaimer here.

These market alerts are provided as part of a trial basis only. To continue to have access to alerts at the end of the trial register at fxcharts.