Eurousd techinical analysis.This chart shows the EUR/USD currency pair on a 1-hour timeframe. Here's a breakdown of the key technical elements:
Key Features:
1. Purple Zones (Rectangles):
Top Rectangle (~1.1695 - 1.1700): Resistance zone.
Bottom Rectangle (~1.1660): Support zone.
2. Pink Descending Trendline:
Represents a downtrend or dynamic resistance.
Price recently approached or tested this trendline from below.
3. Yellow Zigzag and Arrow:
Illustrates potential price movement—an anticipated rejection from the trendline and a move down toward support.
4. Current Price:
1.16858, sitting just below the trendline and within the resistance zone.
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Interpretation:
Bearish Bias: The chart suggests a potential short opportunity if the price fails to break
