EUR/USD is testing a key supply zone near 1.1380 – 1.1443 – a historical level where price has previously reversed sharply.
With price stalling at this resistance, traders should prepare for potential downside opportunities if rejection confirms.
Key Levels:
Resistance/Supply Zone: 1.1380 – 1.1443
First Target Zone: 1.0902
Major Demand/Buy Zone: 1.0290 (highlighted in orange with visible volume support)
Bearish Confluence:
Repeated rejection at this price range in the past
Clean demand imbalances below (price may rebalance)
Psychological resistance around 1.1400
Potential bearish divergence forming on RSI/H4 MACD (not shown)
Trade Idea:
Looking to short near the top of the supply zone with stops above 1.1450.
Targeting 1.0902 first, and deeper drop to 1.0290 if momentum confirms.
Invalidation:
Strong breakout above 1.1450 with volume and bullish continuation.
Questions for the Community:
Do you see this as a double-top formation?
Are you bullish or bearish on EUR/USD going into June?
#EURUSD #ForexAnalysis #SmartMoney #SupplyAndDemand #PriceAction #LuxAlgo #SwingTrade #ReversalSetup #TradingView #FXStrategy
With price stalling at this resistance, traders should prepare for potential downside opportunities if rejection confirms.
Key Levels:
Resistance/Supply Zone: 1.1380 – 1.1443
First Target Zone: 1.0902
Major Demand/Buy Zone: 1.0290 (highlighted in orange with visible volume support)
Bearish Confluence:
Repeated rejection at this price range in the past
Clean demand imbalances below (price may rebalance)
Psychological resistance around 1.1400
Potential bearish divergence forming on RSI/H4 MACD (not shown)
Trade Idea:
Looking to short near the top of the supply zone with stops above 1.1450.
Targeting 1.0902 first, and deeper drop to 1.0290 if momentum confirms.
Invalidation:
Strong breakout above 1.1450 with volume and bullish continuation.
Questions for the Community:
Do you see this as a double-top formation?
Are you bullish or bearish on EUR/USD going into June?
#EURUSD #ForexAnalysis #SmartMoney #SupplyAndDemand #PriceAction #LuxAlgo #SwingTrade #ReversalSetup #TradingView #FXStrategy
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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.