Analysis for EUR/USD — Key Levels to Watch 📊
Currently, EUR/USD is trading inside a descending channel on the 1H timeframe, showing signs of consolidation after a recent bullish push.
Possible Scenarios:
Bullish Outlook:
If price manages to break above the descending channel and holds above 1.1000 —
it could open the door for a move towards the next resistance levels at 1.1050 and 1.1150.
Watch for bullish confirmation near the channel breakout along with Stochastic momentum crossing upwards.
Bearish Outlook:
If the price fails to break the channel and loses support around 1.0900 —
we could see further downside towards the trendline support zone near 1.0850 - 1.0800.
A break below 1.0800 would expose lower supports around 1.0750 - 1.0700.
Conclusion:
Price action is currently in a decision zone —
Break above the channel = Bullish continuation towards resistance.
Break below the channel = Bearish move towards major support zones.
Patience is key — Wait for a confirmed breakout or rejection before taking any position.
If you found this analysis valuable, kindly consider boosting and following for more updates.
Disclaimer: This content is intended for educational purposes only and does not constitute financial advice.
Currently, EUR/USD is trading inside a descending channel on the 1H timeframe, showing signs of consolidation after a recent bullish push.
Possible Scenarios:
Bullish Outlook:
If price manages to break above the descending channel and holds above 1.1000 —
it could open the door for a move towards the next resistance levels at 1.1050 and 1.1150.
Watch for bullish confirmation near the channel breakout along with Stochastic momentum crossing upwards.
Bearish Outlook:
If the price fails to break the channel and loses support around 1.0900 —
we could see further downside towards the trendline support zone near 1.0850 - 1.0800.
A break below 1.0800 would expose lower supports around 1.0750 - 1.0700.
Conclusion:
Price action is currently in a decision zone —
Break above the channel = Bullish continuation towards resistance.
Break below the channel = Bearish move towards major support zones.
Patience is key — Wait for a confirmed breakout or rejection before taking any position.
If you found this analysis valuable, kindly consider boosting and following for more updates.
Disclaimer: This content is intended for educational purposes only and does not constitute financial advice.
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.