Hello everyone! Let's continue our discussion and strategize for EUR/USD trading!
Today, EUR/USD remains in a downtrend channel as sellers dominate and maintain the bearish structure. Every recovery attempt is met with resistance at key levels, signaling that selling pressure is still strong. Currently, EUR/USD is hovering around 1.084, with no signs of a reversal just yet.
On the short-term chart, the pair is trading below both the EMA 34 and EMA 89, reinforcing the downward momentum. Multiple BOS (Break of Structure) formations indicate that further declines are likely. The key resistance zone at 1.0867 - 1.0884 will be crucial—if the price reaches this level but fails to break through, a deeper drop could follow. Traders may consider selling near the upper boundary of the channel or waiting for a breakout below the 1.082 support.
Wishing you all a successful trading session! Don't forget to set your TP and SL properly!
Today, EUR/USD remains in a downtrend channel as sellers dominate and maintain the bearish structure. Every recovery attempt is met with resistance at key levels, signaling that selling pressure is still strong. Currently, EUR/USD is hovering around 1.084, with no signs of a reversal just yet.
On the short-term chart, the pair is trading below both the EMA 34 and EMA 89, reinforcing the downward momentum. Multiple BOS (Break of Structure) formations indicate that further declines are likely. The key resistance zone at 1.0867 - 1.0884 will be crucial—if the price reaches this level but fails to break through, a deeper drop could follow. Traders may consider selling near the upper boundary of the channel or waiting for a breakout below the 1.082 support.
Wishing you all a successful trading session! Don't forget to set your TP and SL properly!
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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.
Related publications
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.