The pair has been consolidating just below a strong supply zone between 1.13698 - 1.13820, as shown by the LuxAlgo supply/demand indicator. Multiple rejections at this resistance area suggest exhaustion from buyers.
Price is forming a tight range, and momentum seems to be fading. With lower highs forming and no successful breakout above 1.13820, bears might be preparing for a move.
---
Bearish Scenario:
If price breaks below 1.13600, we could see a clean drop toward 1.11897 (first support). Should momentum continue, 1.09856 is the next critical level—lined up with major demand and potential news catalysts (highlighted with icons).
Confluence Factors:
Price respecting the supply zone.
Range tightening under resistance.
Bearish divergence forming on lower timeframes (not shown).
Upcoming USD and EUR news events could add volatility.
---
Trade Idea:
Sell Setup: Watch for a break and retest of 1.13600.
Targets: 1.11897 → 1.09856
Stop Loss: Above 1.13850
---
Risk Management Reminder:
Trade with proper lot sizes and risk-reward in mind. Fundamental events may accelerate the move, so keep an eye on economic releases.
Are you short or long on EUR/USD? Drop your thoughts in the comments!
#EURUSD #ForexTrading #PriceAction #SupplyAndDemand #LuxAlgo #TechnicalAnalysis #TradingView #FXSignals
Price is forming a tight range, and momentum seems to be fading. With lower highs forming and no successful breakout above 1.13820, bears might be preparing for a move.
---
Bearish Scenario:
If price breaks below 1.13600, we could see a clean drop toward 1.11897 (first support). Should momentum continue, 1.09856 is the next critical level—lined up with major demand and potential news catalysts (highlighted with icons).
Confluence Factors:
Price respecting the supply zone.
Range tightening under resistance.
Bearish divergence forming on lower timeframes (not shown).
Upcoming USD and EUR news events could add volatility.
---
Trade Idea:
Sell Setup: Watch for a break and retest of 1.13600.
Targets: 1.11897 → 1.09856
Stop Loss: Above 1.13850
---
Risk Management Reminder:
Trade with proper lot sizes and risk-reward in mind. Fundamental events may accelerate the move, so keep an eye on economic releases.
Are you short or long on EUR/USD? Drop your thoughts in the comments!
#EURUSD #ForexTrading #PriceAction #SupplyAndDemand #LuxAlgo #TechnicalAnalysis #TradingView #FXSignals
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