EURUSD is attempting a technical rebound after the recent decline, but price is still below the major EMA near 1.1665. This means bearish pressure has not fully disappeared yet.
The most important resistance zone is 1.1650–1.1670. A rejection from this area could send price back toward 1.1600–1.1585.
Trade Plan
Sell scenario: wait for EURUSD to retest 1.1650–1.1670. If H4 rejects clearly, target 1.1600–1.1585.
Buy scenario: only consider long if price closes firmly above 1.1670 on H4. Targets: 1.1700 and 1.1720.
Invalidation: if price holds above 1.1670, the bearish pullback setup becomes weaker.
The most important resistance zone is 1.1650–1.1670. A rejection from this area could send price back toward 1.1600–1.1585.
Trade Plan
Sell scenario: wait for EURUSD to retest 1.1650–1.1670. If H4 rejects clearly, target 1.1600–1.1585.
Buy scenario: only consider long if price closes firmly above 1.1670 on H4. Targets: 1.1700 and 1.1720.
Invalidation: if price holds above 1.1670, the bearish pullback setup becomes weaker.
Trade active
Related publications
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.
Related publications
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.