EUR/USD is currently retesting a local support at 1.08155, but the broader structure suggests a potential move lower toward the channel support around 1.06227. The pair remains in a short-term bearish phase, with lower highs and weakening bullish momentum.
Technical Outlook:
• Support Levels: 1.08155 (local), 1.07500, 1.06227 (key channel support)
• Resistance Levels: 1.08600, 1.09000
• Trend: Short-term bearish within a larger range
• Indicators:
• RSI: Still has room for downside before reaching oversold conditions
• Price Action: Series of lower highs and weaker bullish attempts suggest sellers remain in control
Trading Plan:
• Short Setup: If price breaks and closes below 1.08155, shorts targeting 1.07500 - 1.06227 align with the trend.
• Long Setup: A strong bullish reaction at 1.06227 could offer a buy opportunity back toward 1.07500 - 1.08155.
Overall, bearish momentum remains dominant, and a move toward 1.06227 looks likely unless bulls step in aggressively.
Technical Outlook:
• Support Levels: 1.08155 (local), 1.07500, 1.06227 (key channel support)
• Resistance Levels: 1.08600, 1.09000
• Trend: Short-term bearish within a larger range
• Indicators:
• RSI: Still has room for downside before reaching oversold conditions
• Price Action: Series of lower highs and weaker bullish attempts suggest sellers remain in control
Trading Plan:
• Short Setup: If price breaks and closes below 1.08155, shorts targeting 1.07500 - 1.06227 align with the trend.
• Long Setup: A strong bullish reaction at 1.06227 could offer a buy opportunity back toward 1.07500 - 1.08155.
Overall, bearish momentum remains dominant, and a move toward 1.06227 looks likely unless bulls step in aggressively.
Trade active
MORE SELLS CAN BE TAKEN WE JUST BROKE LOCAL SUPPORT
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Disclaimer
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✅📚STRATEGIES AND FOREX COURSE WITH LIVE EXAMPLES udemy.com/course/forex-mastery-the-path-to-becoming-a-confident-trader/?referralCode=7BA7D697F9CD81D6472B
✅‼️FREE FOREX GOUP‼️
t.me/Forxtay/1
✅‼️FREE FOREX GOUP‼️
t.me/Forxtay/1
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.