EURUSD: Rejection from Resistance Could Open the Way to 1.1350
Hello everyone, here is my breakdown of the current EURUSD setup.
Market Analysis
EURUSD previously traded inside a broad range before breaking below support, confirming a bearish shift in market structure. After the decline, buyers regained some control and pushed price into an ascending channel, but the recovery stalled beneath the long-term descending trendline. The latest rejection from the 1.1420 Resistance Zone suggests sellers are defending this area once again.
Currently, EURUSD is trading above the 1.1350 Support Zone while remaining below the 1.1420 Resistance Zone and the descending trendline. Price continues to trade near the lower boundary of the ascending channel, where the next directional move is likely to develop.
My Scenario & Strategy
As long as EURUSD remains below the 1.1420 Resistance Zone and the long-term descending trendline, the bearish scenario remains valid. A rejection from current levels could push price toward the 1.1350 Support Zone (TP1).
However, if EURUSD breaks above the 1.1420 Resistance Zone and the descending trendline, the bearish outlook would weaken, opening the door for a stronger bullish recovery.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Market Analysis
EURUSD previously traded inside a broad range before breaking below support, confirming a bearish shift in market structure. After the decline, buyers regained some control and pushed price into an ascending channel, but the recovery stalled beneath the long-term descending trendline. The latest rejection from the 1.1420 Resistance Zone suggests sellers are defending this area once again.
Currently, EURUSD is trading above the 1.1350 Support Zone while remaining below the 1.1420 Resistance Zone and the descending trendline. Price continues to trade near the lower boundary of the ascending channel, where the next directional move is likely to develop.
My Scenario & Strategy
As long as EURUSD remains below the 1.1420 Resistance Zone and the long-term descending trendline, the bearish scenario remains valid. A rejection from current levels could push price toward the 1.1350 Support Zone (TP1).
However, if EURUSD breaks above the 1.1420 Resistance Zone and the descending trendline, the bearish outlook would weaken, opening the door for a stronger bullish recovery.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Trade ativo
At the moment, we are seeing a breakout of the resistance and trend line. It all depends on whether the price can consolidate there, so stay tuned!Trade fechado manualmente
The buyers managed to break the trend line structure. So our scenario is canceled for now!
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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.
🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ t.me/ratner_1
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
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.