EUR/USD - Downtrend - 03/20/2025 (GMT)

If you're considering a trade, let's break down possible strategies based on the current EUR/USD chart:1. Possible Buy (Long) Entry:Entry: If the price shows signs of reversal at 1.08146 (support) with bullish confirmation (e.g., bullish engulfing, double bottom).Target (Take Profit - TP):First TP: 1.08660 (nearest resistance).Second TP: 1.09174 (stronger resistance).Stop Loss (SL): Below 1.0800 to avoid being stopped out by minor fluctuations.Risk-Reward Ratio: Ensure at least 1:2 risk-reward before entering.2. Possible Sell (Short) Entry:Entry: If the price breaks below 1.08146 with strong momentum.Target (TP):First TP: 1.07800 (psychological level).Second TP: 1.07500 (potential strong support).SL: Above 1.0850 to protect against sudden retracements.Key Confirmation Signals:Watch for bullish or bearish candlestick patterns at key levels.Stochastic oversold could indicate a bounce, but a break below suggests more downside.Volume spikes can indicate strong market moves.