First of All we would really appreciate your comments on this analysis on behalf of Brokerir.
The EUR/USD currency pair is currently trading at 1.03254, showing a 0.55% decline at the time of analysis. The price action has experienced a sharp drop, finding temporary support near the 1.03233 level, with buyers attempting to defend the area. You are kindly requested to find out Brokerir deep analysis on EU below:
Key Levels and Price Action
• Support Levels: 1.03233, 1.02938
• Resistance Levels: 1.03514, 1.02645
• Trend Outlook: Short-term retracement before a potential bearish continuation
Technical Outlook
1. Potential Retracement:
• The market has reacted to 1.03233, which is acting as the first support level.
• A short-term retracement is expected, potentially pushing the price towards the resistance at 1.03514.
• If momentum remains strong, there is a possibility of a minor extension beyond 1.03514, but strong selling pressure is anticipated at this level.
2. Bearish Continuation:
• After testing resistance, the pair is expected to reverse and resume its downward trend.
• A break below 1.03233 would confirm a bearish move targeting 1.02938 as an intermediate support zone.
• If selling pressure continues, the price could further drop towards 1.02645, which aligns with a deeper correction level.
Indicators and Confirmation
• Supertrend: The indicator is currently bearish, reinforcing the downtrend.
• Volume and Market Sentiment: Buyers are attempting to recover, but overall momentum suggests a larger downward move.
• 15-Minute Chart Analysis: Short-term bullish correction is likely, but the dominant trend remains bearish.
Final Thoughts
The EUR/USD pair is in a corrective phase, attempting to reclaim 1.03514 before resuming its downtrend. Traders should closely monitor price action at key levels, especially around 1.03514 and 1.02938, as these will be decisive for the next major move. Always consider multiple confluences and risk management strategies when analyzing market trends.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice or trading signals. All these analysis are from Brokerir.
The EUR/USD currency pair is currently trading at 1.03254, showing a 0.55% decline at the time of analysis. The price action has experienced a sharp drop, finding temporary support near the 1.03233 level, with buyers attempting to defend the area. You are kindly requested to find out Brokerir deep analysis on EU below:
Key Levels and Price Action
• Support Levels: 1.03233, 1.02938
• Resistance Levels: 1.03514, 1.02645
• Trend Outlook: Short-term retracement before a potential bearish continuation
Technical Outlook
1. Potential Retracement:
• The market has reacted to 1.03233, which is acting as the first support level.
• A short-term retracement is expected, potentially pushing the price towards the resistance at 1.03514.
• If momentum remains strong, there is a possibility of a minor extension beyond 1.03514, but strong selling pressure is anticipated at this level.
2. Bearish Continuation:
• After testing resistance, the pair is expected to reverse and resume its downward trend.
• A break below 1.03233 would confirm a bearish move targeting 1.02938 as an intermediate support zone.
• If selling pressure continues, the price could further drop towards 1.02645, which aligns with a deeper correction level.
Indicators and Confirmation
• Supertrend: The indicator is currently bearish, reinforcing the downtrend.
• Volume and Market Sentiment: Buyers are attempting to recover, but overall momentum suggests a larger downward move.
• 15-Minute Chart Analysis: Short-term bullish correction is likely, but the dominant trend remains bearish.
Final Thoughts
The EUR/USD pair is in a corrective phase, attempting to reclaim 1.03514 before resuming its downtrend. Traders should closely monitor price action at key levels, especially around 1.03514 and 1.02938, as these will be decisive for the next major move. Always consider multiple confluences and risk management strategies when analyzing market trends.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice or trading signals. All these analysis are from Brokerir.
Trade active
Both Order Filled and Full Target on the long reached. if we see sign of rejection we can go short for the second target
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.