Hello Traders! 👋
What are your thoughts on EURUSD?
EURUSD has confirmed a bearish breakout from a Bear Flag, reinforcing the prevailing downtrend.
After losing the 1.1475–1.1510 support zone, which has now turned into a key resistance area, the pair completed a downside breakout from the Bear Flag, signaling that sellers remain firmly in control.
The breakout occurred below the long-term descending trendline, adding further confluence to the bearish outlook. As long as price remains below the resistance zone and the descending trendline, the broader market structure continues to favor the downside.
If selling pressure persists, the 61.8% Fibonacci retracement level could serve as the next downside objective while also acting as a significant support area where price may react.
A sustained daily close back above the resistance zone would weaken the bearish outlook and increase the probability of a deeper bullish correction.
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 has confirmed a bearish breakout from a Bear Flag, reinforcing the prevailing downtrend.
After losing the 1.1475–1.1510 support zone, which has now turned into a key resistance area, the pair completed a downside breakout from the Bear Flag, signaling that sellers remain firmly in control.
The breakout occurred below the long-term descending trendline, adding further confluence to the bearish outlook. As long as price remains below the resistance zone and the descending trendline, the broader market structure continues to favor the downside.
If selling pressure persists, the 61.8% Fibonacci retracement level could serve as the next downside objective while also acting as a significant support area where price may react.
A sustained daily close back above the resistance zone would weaken the bearish outlook and increase the probability of a deeper bullish correction.
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
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.