Euro Approaches Major Resistance While Bearish Trendline Holds

أول أمس

Hello traders! Here’s my technical outlook based on the current EURUSD (3H) chart structure. EURUSD previously traded below a long-term descending trendline before breaking down from a consolidation range, confirming bearish momentum. After finding support near the 1.1400 Buyer Zone, price recovered into a rising channel but continues to face strong resistance around the 1.1480 Seller Zone. Currently, EURUSD is trading above the 1.1400 Buyer Zone while testing both the upper channel boundary and the long-term descending trendline. The latest rejection from this confluence suggests sellers remain active at resistance. As long as EURUSD remains below the 1.1480 Seller Zone and the descending trendline, the bearish scenario remains valid. A rejection from current levels could push price back toward the 1.1400 Buyer Zone (TP1), where buyers may attempt to defend support. Please share this idea with your friends and click "Boost" 🚀

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أغلقت الصفقة: تم الوصول للهدف

As I expected, the price dropped to the key support zone. Therefore, our target has been fully reached. In my opinion, there will be a corrective movement to the trend line, after which the price will go even lower!

LegionQ8

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