The EUR/USD pair appears to be showing signs of a bearish shift after a strong upward trend. Based on current price action and structure, we can outline the following insights:
Structure & Pattern Insight:
The chart shows the formation of a rising channel or ascending wedge, a classic pattern that often signals exhaustion of bullish momentum.
The price has now broken below the lower trendline, indicating a likely reversal or correction in the near term.
Trend Change Confirmation:
Lower highs and lower lows are starting to form, which supports the idea that bears are gaining control.
The recent break below short-term moving averages and the Ichimoku Cloud reinforces a downward bias.
Key Price Levels:
Target 1: 1.11804 – This is a key support level from previous structure; likely the first take-profit zone if the downtrend continues.
Target 2: 1.10700 – A stronger support zone and potential deeper retracement level, aligning with a longer-term demand a
Structure & Pattern Insight:
The chart shows the formation of a rising channel or ascending wedge, a classic pattern that often signals exhaustion of bullish momentum.
The price has now broken below the lower trendline, indicating a likely reversal or correction in the near term.
Trend Change Confirmation:
Lower highs and lower lows are starting to form, which supports the idea that bears are gaining control.
The recent break below short-term moving averages and the Ichimoku Cloud reinforces a downward bias.
Key Price Levels:
Target 1: 1.11804 – This is a key support level from previous structure; likely the first take-profit zone if the downtrend continues.
Target 2: 1.10700 – A stronger support zone and potential deeper retracement level, aligning with a longer-term demand a
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Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit opportunities..
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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.