Hello traders! Here is my updated technical view on the current EURUSD 4H setup.
EURUSD had been moving within a wide consolidation range after price broke below an ascending support trendline, which signaled a bearish change in the market structure. After that, the pair pushed below the lower boundary of the range and extended its decline, while the longer-term descending trendline continued to act as dynamic resistance. This kept the overall pressure in favor of sellers.
At the moment, EURUSD is holding above the 1.1380 Buyer Zone, but it is still trading under the 1.1470 Seller Zone. The price is showing a recovery from support and is moving along a short-term rising trendline, but the main descending trendline is still limiting the upside.
As long as EURUSD remains below the 1.1470 Seller Zone and fails to break above the descending trendline, the bearish outlook stays active. If the pair rejects from this resistance area, a move back toward the 1.1380 Buyer Zone as TP1 remains a possible scenario.
EURUSD had been moving within a wide consolidation range after price broke below an ascending support trendline, which signaled a bearish change in the market structure. After that, the pair pushed below the lower boundary of the range and extended its decline, while the longer-term descending trendline continued to act as dynamic resistance. This kept the overall pressure in favor of sellers.
At the moment, EURUSD is holding above the 1.1380 Buyer Zone, but it is still trading under the 1.1470 Seller Zone. The price is showing a recovery from support and is moving along a short-term rising trendline, but the main descending trendline is still limiting the upside.
As long as EURUSD remains below the 1.1470 Seller Zone and fails to break above the descending trendline, the bearish outlook stays active. If the pair rejects from this resistance area, a move back toward the 1.1380 Buyer Zone as TP1 remains a possible scenario.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.