SHORTING EURUSD
Technical Overview:
Timeframe: Daily (1D)
Pair: EUR/USD
Indicator: EMA 21 (Exponential Moving Average)
Key Levels:
Resistance: ~1.05155
Support: ~1.03330
Psychological Level: 1.04550 (current price zone)
Major Support Zone: ~1.02500
Analysis:
Market Structure:
The market is in a retracement phase after a bullish move.
A bearish rejection at resistance (~1.05155) led to a pullback, which is now interacting with the 21 EMA and a possible support zone.
Price Action & Rejection:
The recent bearish candle pushed the price down, but there was an immediate rejection from a demand zone, leading to a bullish bounce.
This suggests that buyers are stepping in, showing potential support at the 1.0400 - 1.0450 zone.
Confluence Factors:
EMA 21 Acting as Dynamic Support: The price has previously respected the 21 EMA, and the latest reaction suggests it may hold as support.
Order Block/Reliquidity Grab: A small liquidity grab below the previous lows before bouncing indicates that smart money may be accumulating long positions.
Bullish Rejection Wick: The last candle shows buyer pressure, hinting at a possible move higher.
Trade Bias:
If the price holds above the EMA 21 and current support, bullish continuation is expected.
A break above 1.0455 could signal further bullish movement toward 1.05155.
However, if price breaks below 1.0400, it could indicate further downside toward 1.03330.
Timeframe: Daily (1D)
Pair: EUR/USD
Indicator: EMA 21 (Exponential Moving Average)
Key Levels:
Resistance: ~1.05155
Support: ~1.03330
Psychological Level: 1.04550 (current price zone)
Major Support Zone: ~1.02500
Analysis:
Market Structure:
The market is in a retracement phase after a bullish move.
A bearish rejection at resistance (~1.05155) led to a pullback, which is now interacting with the 21 EMA and a possible support zone.
Price Action & Rejection:
The recent bearish candle pushed the price down, but there was an immediate rejection from a demand zone, leading to a bullish bounce.
This suggests that buyers are stepping in, showing potential support at the 1.0400 - 1.0450 zone.
Confluence Factors:
EMA 21 Acting as Dynamic Support: The price has previously respected the 21 EMA, and the latest reaction suggests it may hold as support.
Order Block/Reliquidity Grab: A small liquidity grab below the previous lows before bouncing indicates that smart money may be accumulating long positions.
Bullish Rejection Wick: The last candle shows buyer pressure, hinting at a possible move higher.
Trade Bias:
If the price holds above the EMA 21 and current support, bullish continuation is expected.
A break above 1.0455 could signal further bullish movement toward 1.05155.
However, if price breaks below 1.0400, it could indicate further downside toward 1.03330.
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.