Short

EUR/USD : The Price Will Fall ? (READ THE CAPTION)

By analyzing the #EURUSD chart on the 4-hour time frame, we observe that on Friday, the price reached the Bearish Order Block around 1.09240 and finally showed an initial negative reaction after a significant upward movement. The last traded price in EURUSD was 1.09097, and if the price can stabilize below this critical resistance level, we might see a price drop to fill the liquidity void created by this rise. This analysis will be updated accordingly.

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Note

By examining the EUR/USD chart in the 4-hour timeframe, we observe that after an initial reaction to the desired level, the price rose again and penetrated above 1.10 in a powerful move to gather liquidity. Following this, it underwent a correction and is currently trading around the 1.092 level. We need to wait for strong signs of either a rise or a fall before making our next move. At present, the price is being supported at the current range, and for further decline, we should wait for a break below 1.0830.

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