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What are your thoughts on EURUSD?
EURUSD remains under bearish pressure after breaking below a key support zone. This area, which previously acted as support, has now turned into resistance and is reinforced by a descending trendline and the 50%–61.8% Fibonacci retracement, creating a strong confluence resistance zone.
The recent rally is viewed as nothing more than a corrective move and a pullback toward the broken support. After reaching this resistance area, price has already shown signs of rejection, suggesting that selling pressure is beginning to return. A period of short-term consolidation around the current levels is possible, but as long as price remains below the resistance zone, the broader bearish outlook remains intact. In this scenario, the next downside target is located around 1.1250.
On the other hand, a sustained breakout and daily close above the resistance zone and the descending trendline would invalidate the bearish scenario.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on EURUSD?
EURUSD remains under bearish pressure after breaking below a key support zone. This area, which previously acted as support, has now turned into resistance and is reinforced by a descending trendline and the 50%–61.8% Fibonacci retracement, creating a strong confluence resistance zone.
The recent rally is viewed as nothing more than a corrective move and a pullback toward the broken support. After reaching this resistance area, price has already shown signs of rejection, suggesting that selling pressure is beginning to return. A period of short-term consolidation around the current levels is possible, but as long as price remains below the resistance zone, the broader bearish outlook remains intact. In this scenario, the next downside target is located around 1.1250.
On the other hand, a sustained breakout and daily close above the resistance zone and the descending trendline would invalidate the bearish scenario.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
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✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
telegram.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
telegram.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.