Current Price: 1.0461
1-Hour (H1) Chart Analysis:
๐ Bearish Rejection from Resistance โ The price attempted to break above 1.0480 - 1.0500 but failed, showing selling pressure at higher levels.
๐ Support Holding Around 1.0440 - 1.0420 โ Buyers are stepping in around this zone, marked by the green trendline, indicating a potential bounce if buyers remain strong.
๐ Short-Term Trend Reversal? โ The previous lower highs and lower lows structure is being tested, with price now battling a descending trendline. A clear break above 1.0500 would confirm a short-term bullish shift.
๐ Indicators:
โ๏ธ Moving averages are flattening, showing indecision.
โ๏ธ A break above 1.0500 will push EUR/USD toward 1.0550 - 1.0600.
โ๏ธ A failure to hold 1.0440 will bring the pair back down to 1.0400 - 1.0380.
H1 Prediction:
๐ Bullish Scenario: A break and close above 1.0500 could trigger upside momentum toward 1.0550 - 1.0600.
๐ Bearish Scenario: A rejection at 1.0500 or a breakdown below 1.0440 could send the pair toward 1.0400 - 1.0380.
Daily (D1) Chart Analysis:
๐ Downtrend Dominates โ The red descending trendline indicates a strong bearish trend since the 1.1200 highs, with multiple lower highs rejecting from resistance.
๐ Breakout or Rejection? โ Price is currently testing the trendline resistance, and a daily close above 1.0500 would confirm a bullish breakout. Otherwise, it remains a bearish rejection zone.
๐ Support at 1.0300 - 1.0200 โ The last major support zone was found here (green trendline), and any break below this level would open the way to 1.0100.
๐ Indicators:
โ๏ธ EUR/USD is attempting to break the downtrend, but 1.0500 is key resistance.
โ๏ธ If rejected, expect further downside toward 1.0300 - 1.0200.
โ๏ธ If it breaks above 1.0500, we could see 1.0600+ levels tested.
D1 Prediction:
๐ Bullish Scenario: A daily close above 1.0500 would push EUR/USD toward 1.0600 - 1.0700, confirming trend reversal.
๐ Bearish Scenario: A failure at 1.0500 will likely lead to 1.0380 - 1.0300, with a possible drop to 1.0200 if momentum builds.
Final Outlook:
๐จ Overall Bias: Bearish, but at key resistance
๐ธ Short-Term (H1): Watching for a breakout above 1.0500 or rejection leading to 1.0400.
๐ธ Long-Term (D1): EUR/USD is at a crucial resistanceโeither it reverses into bullish or continues the larger downtrend toward 1.0300 - 1.0200.
๐ก Strategy:
โ For buyers: Wait for a clear breakout above 1.0500 before going long, targeting 1.0600 - 1.0700.
โ For sellers: If price rejects 1.0500, shorting toward 1.0380 - 1.0300 would be a high-probability trade.
๐ EUR/USD is at a decision pointโwatch for confirmation before making a move! ๐
1-Hour (H1) Chart Analysis:
๐ Bearish Rejection from Resistance โ The price attempted to break above 1.0480 - 1.0500 but failed, showing selling pressure at higher levels.
๐ Support Holding Around 1.0440 - 1.0420 โ Buyers are stepping in around this zone, marked by the green trendline, indicating a potential bounce if buyers remain strong.
๐ Short-Term Trend Reversal? โ The previous lower highs and lower lows structure is being tested, with price now battling a descending trendline. A clear break above 1.0500 would confirm a short-term bullish shift.
๐ Indicators:
โ๏ธ Moving averages are flattening, showing indecision.
โ๏ธ A break above 1.0500 will push EUR/USD toward 1.0550 - 1.0600.
โ๏ธ A failure to hold 1.0440 will bring the pair back down to 1.0400 - 1.0380.
H1 Prediction:
๐ Bullish Scenario: A break and close above 1.0500 could trigger upside momentum toward 1.0550 - 1.0600.
๐ Bearish Scenario: A rejection at 1.0500 or a breakdown below 1.0440 could send the pair toward 1.0400 - 1.0380.
Daily (D1) Chart Analysis:
๐ Downtrend Dominates โ The red descending trendline indicates a strong bearish trend since the 1.1200 highs, with multiple lower highs rejecting from resistance.
๐ Breakout or Rejection? โ Price is currently testing the trendline resistance, and a daily close above 1.0500 would confirm a bullish breakout. Otherwise, it remains a bearish rejection zone.
๐ Support at 1.0300 - 1.0200 โ The last major support zone was found here (green trendline), and any break below this level would open the way to 1.0100.
๐ Indicators:
โ๏ธ EUR/USD is attempting to break the downtrend, but 1.0500 is key resistance.
โ๏ธ If rejected, expect further downside toward 1.0300 - 1.0200.
โ๏ธ If it breaks above 1.0500, we could see 1.0600+ levels tested.
D1 Prediction:
๐ Bullish Scenario: A daily close above 1.0500 would push EUR/USD toward 1.0600 - 1.0700, confirming trend reversal.
๐ Bearish Scenario: A failure at 1.0500 will likely lead to 1.0380 - 1.0300, with a possible drop to 1.0200 if momentum builds.
Final Outlook:
๐จ Overall Bias: Bearish, but at key resistance
๐ธ Short-Term (H1): Watching for a breakout above 1.0500 or rejection leading to 1.0400.
๐ธ Long-Term (D1): EUR/USD is at a crucial resistanceโeither it reverses into bullish or continues the larger downtrend toward 1.0300 - 1.0200.
๐ก Strategy:
โ For buyers: Wait for a clear breakout above 1.0500 before going long, targeting 1.0600 - 1.0700.
โ For sellers: If price rejects 1.0500, shorting toward 1.0380 - 1.0300 would be a high-probability trade.
๐ EUR/USD is at a decision pointโwatch for confirmation before making a move! ๐
Dhanda The Great
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.
Dhanda The Great
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.