EURUSD remains overall bearish, trading within the descending channel marked in red. 🔴
After the recent selloff, price is now approaching a strong confluence zone where the lower bound of the red channel intersects with the blue support and demand zone. This area is also considered an oversold region within the current bearish structure. 🔵
As long as this intersection holds, we will be looking for longs, anticipating a bullish reaction from support and a move toward the upper bound of the channel. 📊
This does not necessarily signal a trend reversal yet. Instead, it represents a potential counter-trend recovery within the broader bearish structure.
The lower channel boundary and demand zone will be the key levels to watch in the coming sessions. ⚡
Will the bulls defend this confluence zone and trigger a rebound? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
After the recent selloff, price is now approaching a strong confluence zone where the lower bound of the red channel intersects with the blue support and demand zone. This area is also considered an oversold region within the current bearish structure. 🔵
As long as this intersection holds, we will be looking for longs, anticipating a bullish reaction from support and a move toward the upper bound of the channel. 📊
This does not necessarily signal a trend reversal yet. Instead, it represents a potential counter-trend recovery within the broader bearish structure.
The lower channel boundary and demand zone will be the key levels to watch in the coming sessions. ⚡
Will the bulls defend this confluence zone and trigger a rebound? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Trade closed: target reached
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theSignalyst.com
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t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.