Hello Trader,
Eurusd key resistance level, marked by prior price rejections, means strong selling and we are interested this side. This is area has selected key supply zone.
Yes, the 1.09902 level is a key resistance zone where price has faced previous rejections, indicating strong selling interest. This makes it a supply zone, where sellers may push the price lower.
Trading Plan (Bearish):
1. Sell Setup at Resistance:
Look for rejection patterns (e.g., bearish engulfing, wicks, double top).
Confirmation with volume and candlestick patterns can strengthen the trade idea.
2. Target: 1.07586 (Support Zone)
Price is expected to break the rising channel and move toward this demand zone, making it a logical profit target.
3. Stop Loss:
Placed above 1.09902, in case the price breaks resistance and continues higher.
Would you like a more detailed breakdown or alternative trade ideas?
Eurusd key resistance level, marked by prior price rejections, means strong selling and we are interested this side. This is area has selected key supply zone.
Yes, the 1.09902 level is a key resistance zone where price has faced previous rejections, indicating strong selling interest. This makes it a supply zone, where sellers may push the price lower.
Trading Plan (Bearish):
1. Sell Setup at Resistance:
Look for rejection patterns (e.g., bearish engulfing, wicks, double top).
Confirmation with volume and candlestick patterns can strengthen the trade idea.
2. Target: 1.07586 (Support Zone)
Price is expected to break the rising channel and move toward this demand zone, making it a logical profit target.
3. Stop Loss:
Placed above 1.09902, in case the price breaks resistance and continues higher.
Would you like a more detailed breakdown or alternative trade ideas?
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.