EUR/USD 45-minute timeframe . The chart features technical analysis with key support and resistance levels marked.
Key Observations:
1. Support & Resistance:
• Resistance Level: ~1.05206
• Current Price: ~1.04988
• Support Zone: ~1.04882 - 1.04960
2. Chart Pattern:
• A bearish retracement is visible, where the price was rejected from resistance and moved downward.
• A demand zone (gray box) is marked, indicating a possible price bounce from this level.
• A potential bullish setup is drawn, suggesting that the price might reverse from support and continue upward to create a higher high.
3. Projection:
• The expected move appears bullish.
• The price is anticipated to bounce from the retracement zone and attempt to break above the resistance level.
Key Observations:
1. Support & Resistance:
• Resistance Level: ~1.05206
• Current Price: ~1.04988
• Support Zone: ~1.04882 - 1.04960
2. Chart Pattern:
• A bearish retracement is visible, where the price was rejected from resistance and moved downward.
• A demand zone (gray box) is marked, indicating a possible price bounce from this level.
• A potential bullish setup is drawn, suggesting that the price might reverse from support and continue upward to create a higher high.
3. Projection:
• The expected move appears bullish.
• The price is anticipated to bounce from the retracement zone and attempt to break above the resistance level.
Trade closed: target reached
TARGET REACHED,
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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.