This chart represents a EUR/USD 30-minute timeframe analysis. It's structured within a descending channel, suggesting a bearish trend. Here's a breakdown of the setup and possible trading insights:
Technical Analysis:
1. Resistance Level: 1.11000
This level is the upper boundary of the descending channel.
Price has repeatedly tested this trendline but failed to break above, indicating strong selling pressure.
2. Channel Pattern:
The market is forming lower highs and lower lows, reinforcing the downward trend.
Price is moving within the boundaries of the descending channel, respecting both support and resistance levels.
3. First Target Point: 1.08500
Marked as a potential take-profit area if the price continues downward from the resistance.
Could act as a temporary support, offering a bounce or a brief consolidation.
4. Second Target Point: 1.07500
Deeper target within the channel, closer to the lower boundary.
If the price breaks the 1.08500 level decisively, this is the next likely destination.
5. Projection Path:
The chart illustrates a possible false breakout above resistance, followed by a sharp drop—common in bearish setups.
This might trap buyers before reversing to the downside.
Trading Insight:
Entry Option: Watch for bearish price action near the 1.11000 resistance or a confirmed break below a key support level.
Risk Management: A stop-loss above 1.11000 is ideal to manage risk in case of a breakout
Technical Analysis:
1. Resistance Level: 1.11000
This level is the upper boundary of the descending channel.
Price has repeatedly tested this trendline but failed to break above, indicating strong selling pressure.
2. Channel Pattern:
The market is forming lower highs and lower lows, reinforcing the downward trend.
Price is moving within the boundaries of the descending channel, respecting both support and resistance levels.
3. First Target Point: 1.08500
Marked as a potential take-profit area if the price continues downward from the resistance.
Could act as a temporary support, offering a bounce or a brief consolidation.
4. Second Target Point: 1.07500
Deeper target within the channel, closer to the lower boundary.
If the price breaks the 1.08500 level decisively, this is the next likely destination.
5. Projection Path:
The chart illustrates a possible false breakout above resistance, followed by a sharp drop—common in bearish setups.
This might trap buyers before reversing to the downside.
Trading Insight:
Entry Option: Watch for bearish price action near the 1.11000 resistance or a confirmed break below a key support level.
Risk Management: A stop-loss above 1.11000 is ideal to manage risk in case of a breakout
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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.
Join telegram channel free ..
t.me/GoldMan0009
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/GoldMan0009
t.me/GoldMan0009
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/GoldMan0009
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.