EURUSD price has broken below 1.0445 and is trending downward
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EURUSD 4H NEW FORECAST
1. Bearish Setup (Higher Probability Trade)
Since the price has broken below 1.0445 (Pivot Line) and is trending downward, we can look for a short (sell) trade.
📌 Entry:
Retest of 1.0445 as resistance (wait for rejection).
Alternatively, enter on a break & close below 1.0420 for confirmation.
🎯 Targets:
Take Profit 1 (TP1): 1.0400 (First support zone).
Take Profit 2 (TP2): 1.0345 (Stronger support zone).
Above 1.0465 (recent high & invalidation level).
📌 Entry:
A 4H candle close above 1.0445, confirming bullish strength.
🎯 Targets:
Take Profit 1: 1.0480 (Recent high).
Take Profit 2: 1.0500 (Major resistance zone).
Below 1.0420 (Invalidation level).
Final Thoughts
Main Bias: Bearish, favoring shorts toward 1.0400 & 1.0345.
Alternative: If bulls reclaim 1.0445, a move to 1.0500 is possible.
Confirmation Needed: Watch for price action at the pivot line before entering trades.
EURUSD 4H NEW FORECAST
1. Bearish Setup (Higher Probability Trade)
Since the price has broken below 1.0445 (Pivot Line) and is trending downward, we can look for a short (sell) trade.
📌 Entry:
Retest of 1.0445 as resistance (wait for rejection).
Alternatively, enter on a break & close below 1.0420 for confirmation.
🎯 Targets:
Take Profit 1 (TP1): 1.0400 (First support zone).
Take Profit 2 (TP2): 1.0345 (Stronger support zone).
Above 1.0465 (recent high & invalidation level).
📌 Entry:
A 4H candle close above 1.0445, confirming bullish strength.
🎯 Targets:
Take Profit 1: 1.0480 (Recent high).
Take Profit 2: 1.0500 (Major resistance zone).
Below 1.0420 (Invalidation level).
Final Thoughts
Main Bias: Bearish, favoring shorts toward 1.0400 & 1.0345.
Alternative: If bulls reclaim 1.0445, a move to 1.0500 is possible.
Confirmation Needed: Watch for price action at the pivot line before entering trades.
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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.
Related publications
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.