Euro / U.S. DollarShort
Bearish Setup on EUR/USD After Rejection at Key Resistance
Trading Idea on 1-Hour Chart (H1):
Technical Confirmation:
The 1.0540 - 1.0544 area acts as a significant rejection point where bullish momentum appears to be weakening.
The price broke below a descending trendline and is now retesting the zone, showing clear signs of rejection.
The RSI is currently near 60, reflecting recent bullish movement but remaining below overbought levels, which signals potential exhaustion in the upward move.
Technical Confirmation:
The 1.0540 - 1.0544 area acts as a significant rejection point where bullish momentum appears to be weakening.
The price broke below a descending trendline and is now retesting the zone, showing clear signs of rejection.
The RSI is currently near 60, reflecting recent bullish movement but remaining below overbought levels, which signals potential exhaustion in the upward move.
Summary:
This idea is based on a bearish continuation pattern following rejection at a key resistance zone, supported by trendline retest and weakening bullish momentum. Confirmation on lower timeframes (e.g., M15) is recommended before entry.
Technical Confirmation:
The 1.0540 - 1.0544 area acts as a significant rejection point where bullish momentum appears to be weakening.
The price broke below a descending trendline and is now retesting the zone, showing clear signs of rejection.
The RSI is currently near 60, reflecting recent bullish movement but remaining below overbought levels, which signals potential exhaustion in the upward move.
Technical Confirmation:
The 1.0540 - 1.0544 area acts as a significant rejection point where bullish momentum appears to be weakening.
The price broke below a descending trendline and is now retesting the zone, showing clear signs of rejection.
The RSI is currently near 60, reflecting recent bullish movement but remaining below overbought levels, which signals potential exhaustion in the upward move.
Summary:
This idea is based on a bearish continuation pattern following rejection at a key resistance zone, supported by trendline retest and weakening bullish momentum. Confirmation on lower timeframes (e.g., M15) is recommended before entry.
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