Euro / U.S. DollarShort
Bearish Momentum in EUR/USD:Analyzing the Descent to Key Support
Technical Analysis of EUR/USD:
Current Trend: The EUR/USD pair is demonstrating a bearish trend across multiple timeframes, specifically observed on the Daily (D1), 4-Hour (H4), and 1-Hour (H1) charts.
Key Price Levels: The price has repeatedly tested the resistance level at 1.06, with three significant touches, effectively absorbing available liquidity around this zone.
Future Price Targets:
First Target: 1.023
Second Target: 0.9935
Market Outlook: We anticipate continued monitoring and will provide updates to our analysis as market conditions evolve throughout the week. Based on current trends and technical indicators, we expect the price to reach our first target price (TP1) within the next one to two weeks.
Disclaimer: Trading involves risk. The above analysis is based on current data and market conditions are subject to change. Always use appropriate risk management strategies.
Current Trend: The EUR/USD pair is demonstrating a bearish trend across multiple timeframes, specifically observed on the Daily (D1), 4-Hour (H4), and 1-Hour (H1) charts.
Key Price Levels: The price has repeatedly tested the resistance level at 1.06, with three significant touches, effectively absorbing available liquidity around this zone.
Future Price Targets:
First Target: 1.023
Second Target: 0.9935
Market Outlook: We anticipate continued monitoring and will provide updates to our analysis as market conditions evolve throughout the week. Based on current trends and technical indicators, we expect the price to reach our first target price (TP1) within the next one to two weeks.
Disclaimer: Trading involves risk. The above analysis is based on current data and market conditions are subject to change. Always use appropriate risk management strategies.
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.