Trading point update
This chart provides a technical analysis of EUR/USD on the 3-hour timeframe with key insights:
Analysis & Expectations
1. Overbought Condition & Rejection
Price reached a strong resistance zone (highlighted in yellow) around 1.11425 - 1.10751, leading to a sharp rejection.
The RSI is in the overbought zone (~68.43) and showing a downward slope, indicating a potential bearish correction.
Mr SMC Trading point
2. Expected Bearish Correction
A potential drop is expected toward the support level around 1.08501 - 1.07925, aligning with past price action.
The 200 EMA (1.07757) also serves as a significant support level, reinforcing a possible retracement.
3. Target Levels
Short-term Bearish Target: 1.08501 (Support level)
Key Support Zone: 1.07925 - 1.07757 (Near 200 EMA)
Conclusion
The analysis suggests a bearish retracement after the strong bullish move. Traders may look for short opportunities targeting the support level and 200 EMA while watching for confirmation signals before entering.
Pales support boost 🚀 analysis follow)
This chart provides a technical analysis of EUR/USD on the 3-hour timeframe with key insights:
Analysis & Expectations
1. Overbought Condition & Rejection
Price reached a strong resistance zone (highlighted in yellow) around 1.11425 - 1.10751, leading to a sharp rejection.
The RSI is in the overbought zone (~68.43) and showing a downward slope, indicating a potential bearish correction.
Mr SMC Trading point
2. Expected Bearish Correction
A potential drop is expected toward the support level around 1.08501 - 1.07925, aligning with past price action.
The 200 EMA (1.07757) also serves as a significant support level, reinforcing a possible retracement.
3. Target Levels
Short-term Bearish Target: 1.08501 (Support level)
Key Support Zone: 1.07925 - 1.07757 (Near 200 EMA)
Conclusion
The analysis suggests a bearish retracement after the strong bullish move. Traders may look for short opportunities targeting the support level and 200 EMA while watching for confirmation signals before entering.
Pales support boost 🚀 analysis follow)
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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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.