Analysis of EUR/USD
Bias: Bearish
The EUR/USD pair is showing bearish momentum across multiple timeframes. On the 4-hour chart, we can see a clear rejection from the 1.1150 area, with price now trading around 1.0930. The recent price structure shows a lower high formation after a strong bearish move from the 1.1150 resistance zone.
Market Structure:
The 4-hour chart shows a significant bearish move from March to early April, followed by a sharp rally and recent rejection
The 1-hour timeframe confirms the bearish reversal with a double top formation near 1.1050
The 15-minute chart shows a series of lower highs and lower lows, confirming immediate bearish pressure
Trade Setup:
Entry: Sell at market (1.0930)
Order Type: Market order
Stop Loss: 1.0965 (35 pips above entry, just above the recent swing high)
Take Profit (TP): 1.0865 (65 pips, targeting the previous support level)
Extended Take Profit (TP2): 1.0800 (130 pips, targeting the psychological level and previous consolidation zone)
Reasoning:
The price has recently rejected the 1.10-1.11 resistance zone and formed a bearish structure. The current price action suggests continuation of the downtrend that began after testing the significant resistance around 1.1150. Multiple timeframes align to show bearish momentum, with clear rejection from higher levels.
Alternative Scenario:
If you miss this entry, wait for a potential retest of the 1.0965-1.0980 zone and enter on rejection with bearish confirmation (such as bearish engulfing pattern or rejection candle). In case price breaks above 1.0980, the bearish bias would be invalidated, suggesting a possible shift to a more neutral or bullish bias.
Bias: Bearish
The EUR/USD pair is showing bearish momentum across multiple timeframes. On the 4-hour chart, we can see a clear rejection from the 1.1150 area, with price now trading around 1.0930. The recent price structure shows a lower high formation after a strong bearish move from the 1.1150 resistance zone.
Market Structure:
The 4-hour chart shows a significant bearish move from March to early April, followed by a sharp rally and recent rejection
The 1-hour timeframe confirms the bearish reversal with a double top formation near 1.1050
The 15-minute chart shows a series of lower highs and lower lows, confirming immediate bearish pressure
Trade Setup:
Entry: Sell at market (1.0930)
Order Type: Market order
Stop Loss: 1.0965 (35 pips above entry, just above the recent swing high)
Take Profit (TP): 1.0865 (65 pips, targeting the previous support level)
Extended Take Profit (TP2): 1.0800 (130 pips, targeting the psychological level and previous consolidation zone)
Reasoning:
The price has recently rejected the 1.10-1.11 resistance zone and formed a bearish structure. The current price action suggests continuation of the downtrend that began after testing the significant resistance around 1.1150. Multiple timeframes align to show bearish momentum, with clear rejection from higher levels.
Alternative Scenario:
If you miss this entry, wait for a potential retest of the 1.0965-1.0980 zone and enter on rejection with bearish confirmation (such as bearish engulfing pattern or rejection candle). In case price breaks above 1.0980, the bearish bias would be invalidated, suggesting a possible shift to a more neutral or bullish bias.
Trade closed: stop reached
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.
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.