EURUSD Rejection from Trendline Keeps Bears in Control

Hello traders! Here’s my technical outlook based on the current EURUSD (4H) chart structure. EURUSD initially formed a range after a prior uptrend, then broke below an ascending support line, signaling a shift in momentum. Following the breakdown, price continued to trade under a descending trend line, confirming growing bearish pressure. Currently, price is trading below the 1.1580 resistance (seller zone) and reacting near the 1.1470 support (buyer zone). The market also formed a lower high after rejecting the descending trend line, reinforcing the bearish structure. As long as EURUSD remains below the 1.1580 resistance and respects the descending trend line, the bearish bias remains valid. A continuation lower could push price toward the 1.1470 support (TP1), which is the next downside target. Please share this idea with your friends and click Boost 🚀

Transaction en cours

Today we see that the price is already trying to reach the resistance zone, but sellers are pushing it away. I expect another correction attempt and then a move to our target!

Note

The price pushed back and gradually started moving towards our target. Let's wait!

Trade fermée manuellement

The euro remains in a consolidation phase. So we will look at the situation again.

LegionQ8

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LegionQ8

🔷Join my telegram channel for free - bit.ly/4g4wovR

💰Want receive more profitable signals for Crypto & Forex market, write me PM 👉 bit.ly/4fNijD8

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