EUR/USD (Euro/US Dollar) currency pair on a 4-hour (4H) timeframe.
Chart Breakdown:
1. Trading Zones:
• The “ENTRY ZONE” is highlighted, indicating a potential area for buying or selling opportunities.
• The “STOP LOSS” level is marked to minimize potential losses.
2. Technical Analysis:
• Fibonacci levels are drawn, showing possible support and resistance zones.
• A large red circle highlights a significant price action pattern, possibly indicating a reversal or continuation.
• Price is reacting to different support and resistance levels, suggesting key decision points in the market.
3. Current Market Condition:
• The price is currently trading around 1.04776.
• It is near the ENTRY ZONE, signaling a potential breakout or reversal.
• The 1.03023 level appears to be a strong support zone, where the price may move if it continues downward.
Chart Breakdown:
1. Trading Zones:
• The “ENTRY ZONE” is highlighted, indicating a potential area for buying or selling opportunities.
• The “STOP LOSS” level is marked to minimize potential losses.
2. Technical Analysis:
• Fibonacci levels are drawn, showing possible support and resistance zones.
• A large red circle highlights a significant price action pattern, possibly indicating a reversal or continuation.
• Price is reacting to different support and resistance levels, suggesting key decision points in the market.
3. Current Market Condition:
• The price is currently trading around 1.04776.
• It is near the ENTRY ZONE, signaling a potential breakout or reversal.
• The 1.03023 level appears to be a strong support zone, where the price may move if it continues downward.
Trade closed: target reached
Target Reached 2nd TP hit.
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.