EUR/USD Analysis - Short Opportunity
The EUR/USD pair has reached a weak high near 1.0598, suggesting potential exhaustion of bullish momentum. Key levels and patterns indicate a possible short setup:
Change of Character (ChoCH): Signs of a shift in market structure to the downside, as seen in recent rejections.
Bearish Order Block: Price is testing a supply zone, aligning with a short-term bearish bias.
Liquidity Zones: The area near 1.0547 and 1.0530 offers targets for a potential downward move, as these zones may attract price action.
Risk Zone: Stop-loss placement above the weak high around 1.0598 to protect against unexpected bullish continuation.
Plan: Consider shorting at current levels or on a slight pullback, targeting the lower zones (1.0547, 1.0530). Ensure tight risk management to navigate potential volatility.
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The setup looks ever more promising after Trump's tweet talking about BRIKSTrade closed: target reached
Take Profit reached
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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.
📈 6 years in the financial markets! Join my Telegram for exclusive insights.
Telegram Link: t.me/charts_M7M
Telegram Link: t.me/charts_M7M
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.