Euro / U.S. Dollar
Short
Updated

"EUR/USD Bearish Breakdown – Targeting 1.0802 Support"

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This chart is a 30-minute timeframe analysis of EUR/USD, showing a potential bearish move.

Key Observations:
Resistance Zone (Red Highlighted Area ~1.0856)

Price attempted to break above but got rejected multiple times, indicating strong selling pressure.
Break & Retest Formation

The price has dropped below 1.0836 and is now testing this level as resistance.
This suggests a classic break-and-retest pattern, which could lead to further downside movement.
Bearish Expectation (Red Arrow & Green Zone)

The chart suggests a short position, with a target around 1.0802 (blue horizontal support).
The stop-loss is placed above 1.0856 (resistance), minimizing risk.
Trade Setup Analysis:
Entry: Below 1.0836, after confirmation of resistance hold.
Stop-Loss: Above 1.0856 (previous resistance).
Take-Profit: Around 1.0802 (support).
Risk-Reward Ratio: Favorable, as the target is significantly lower than the stop level.
Conclusion:
This is a bearish setup with expectations of further downside towards 1.0802. However, if price reclaims 1.0856, the setup might become invalid, and bulls could regain control. Let me know if you need further insights! 📉🔥
Trade active
Resistance Rejection: Price rejected the 1.0856 resistance zone, indicating strong selling pressure.
Break & Retest: Price broke below 1.0836 and is now testing it as resistance.
Note
update SL at 1.089

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