EUR/USD 1H ANALUSIS; Double Top Rejection potential reversal
EUR/USD 1H Chart Analysis
1. Price Action & Market Structure
The EUR/USD currency pair is displayed on a 1-hour timeframe.
The market recently experienced a sharp decline, followed by a potential reversal attempt.
A bounce from support is indicated, suggesting a possible retracement or bullish correction.
2. Indicators & Technical Tools Used
Bollinger Bands: Price touched the lower band, indicating oversold conditions, which may lead to a reversal.
Support & Resistance Levels:
Support: Around 1.03646 - 1.03387.
Resistance (Target Level): 1.04169 (marked in red).
Potential Upward Move: A red arrow suggests a long (buy) trade setup, aiming for the resistance level.
3. Trade Setup & Risk Management
Bullish Setup: The chart suggests a buy position from the lower support zone.
Stop-Loss: Below 1.03387 (previous low).
Take-Profit Target: Near 1.04169 (resistance zone).
4. Conclusion
Bullish Reversal Potential: If price sustains above 1.03646, an upward move toward 1.04169 is possible.
Watch Key Levels: If price fails to hold support, a deeper decline may follow.
Confirmation Needed: Look for bullish candlestick patterns before entering the trade.
1. Price Action & Market Structure
The EUR/USD currency pair is displayed on a 1-hour timeframe.
The market recently experienced a sharp decline, followed by a potential reversal attempt.
A bounce from support is indicated, suggesting a possible retracement or bullish correction.
2. Indicators & Technical Tools Used
Bollinger Bands: Price touched the lower band, indicating oversold conditions, which may lead to a reversal.
Support & Resistance Levels:
Support: Around 1.03646 - 1.03387.
Resistance (Target Level): 1.04169 (marked in red).
Potential Upward Move: A red arrow suggests a long (buy) trade setup, aiming for the resistance level.
3. Trade Setup & Risk Management
Bullish Setup: The chart suggests a buy position from the lower support zone.
Stop-Loss: Below 1.03387 (previous low).
Take-Profit Target: Near 1.04169 (resistance zone).
4. Conclusion
Bullish Reversal Potential: If price sustains above 1.03646, an upward move toward 1.04169 is possible.
Watch Key Levels: If price fails to hold support, a deeper decline may follow.
Confirmation Needed: Look for bullish candlestick patterns before entering the trade.
Trade active
tarde active from 1.03702 keep hold in buy position
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.