This EUR/USD 1-hour chart highlights a key resistance zone where price action has formed a higher high and a higher low. The resistance area is marked in green, suggesting a potential reversal. A bearish scenario is projected, targeting the 1.08780 level. The support zone is identified in red, indicating a potential demand area. Traders should watch for confirmation signals before entering positions.
Key Points:
Resistance Zone (1.0955 - 1.0960): Price has struggled to break above this level.
Support Zone (1.0780 - 1.0800): A potential target if the price moves lower.
Bearish Setup: The price formed a higher high but failed to push higher, suggesting a possible drop.
Target: 1.08780 if the price rejects resistance.
Key Points:
Resistance Zone (1.0955 - 1.0960): Price has struggled to break above this level.
Support Zone (1.0780 - 1.0800): A potential target if the price moves lower.
Bearish Setup: The price formed a higher high but failed to push higher, suggesting a possible drop.
Target: 1.08780 if the price rejects resistance.
Trade closed: target reached
CONGRATULATIONS Our Target reached Successfully
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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.