Hello Trader,
Based on the EUR/USD chart you provided, here’s a brief analysis:
Technical Outlook:
1. Descending Channel Breakout?
The price has been moving within a descending channel, shown by the two downward-sloping black trendlines.
A potential breakout could be forming if the price sustains above resistance.
2. Support & Reversal Zone (1.0800 Area)
The blue horizontal line represents a strong support zone around 1.0800.
The chart suggests a possible bounce from this level before an upward movement.
3. Bullish Target Zones:
First target: Around 1.0850 - 1.0870, marked with the first yellow zone.
Final target: Near 1.0900 - 1.0920, marked as the "Target" zone.
4. Trade Idea:
If the price bounces from support, a bullish move is likely.
Breakout confirmation above 1.0850 could trigger a push toward 1.0900+.
A failure to hold support (1.0800) might invalidate the bullish setup.
Summary:
Bullish bias above 1.0800 with targets at 1.0850 and 1.0900.
Bearish risk if price breaks below 1.0800.
Would you like further confirmation using indicators or another timeframe?
Based on the EUR/USD chart you provided, here’s a brief analysis:
Technical Outlook:
1. Descending Channel Breakout?
The price has been moving within a descending channel, shown by the two downward-sloping black trendlines.
A potential breakout could be forming if the price sustains above resistance.
2. Support & Reversal Zone (1.0800 Area)
The blue horizontal line represents a strong support zone around 1.0800.
The chart suggests a possible bounce from this level before an upward movement.
3. Bullish Target Zones:
First target: Around 1.0850 - 1.0870, marked with the first yellow zone.
Final target: Near 1.0900 - 1.0920, marked as the "Target" zone.
4. Trade Idea:
If the price bounces from support, a bullish move is likely.
Breakout confirmation above 1.0850 could trigger a push toward 1.0900+.
A failure to hold support (1.0800) might invalidate the bullish setup.
Summary:
Bullish bias above 1.0800 with targets at 1.0850 and 1.0900.
Bearish risk if price breaks below 1.0800.
Would you like further confirmation using indicators or another timeframe?
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.
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.