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. After a brief recovery, price was rejected from the long-term descending trendline and continued lower toward the 1.1350 Support Zone.
Currently, EURUSD is trading below the 1.1440 Resistance Zone after a fake breakout from the ascending channel. The recent breakdown below channel support suggests that sellers are regaining control.
My Scenario & Strategy
As long as EURUSD remains below the 1.1440 Resistance Zone and the descending trendline, the bearish scenario remains valid. A continuation lower could push price toward the 1.1350 Support Zone (TP1).
However, if EURUSD recovers above the 1.1440 Resistance Zone and breaks the descending trendline, the bearish outlook would weaken and a stronger bullish recovery could develop.
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. After a brief recovery, price was rejected from the long-term descending trendline and continued lower toward the 1.1350 Support Zone.
Currently, EURUSD is trading below the 1.1440 Resistance Zone after a fake breakout from the ascending channel. The recent breakdown below channel support suggests that sellers are regaining control.
My Scenario & Strategy
As long as EURUSD remains below the 1.1440 Resistance Zone and the descending trendline, the bearish scenario remains valid. A continuation lower could push price toward the 1.1350 Support Zone (TP1).
However, if EURUSD recovers above the 1.1440 Resistance Zone and breaks the descending trendline, the bearish outlook would weaken and a stronger bullish recovery could develop.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Trade active
As we can see, at the moment the price has risen to the key point of intersection of the resistance and trend lines. In general, you can already see that the sellers have reacted and the price is gradually decreasing. It remains only to wait for the target to be reached!Trade closed manually
The price has returned to the ascending channel so that the scenario is canceled for now!
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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.
🚀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
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.