Welcome back, guys! I’m Skeptic, and today we’re diving into a multi-timeframe breakdown of EUR/USD. We’ll analyze EURX (Euro Index) and wrap it up with some high-probability trade setups. Let’s get started! 🚀
EURX Analysis
Looking at the EURX chart, after a secondary uptrend, we’ve formed an upward channel. When price enters a channel after a sharp uptrend, it typically signals a loss of momentum, increasing the chances of a continuation of the major downtrend—which is exactly what’s happening now.
Currently, price is testing a key support at 1037.8. This is a critical level, and if broken, we can expect further downside for EUR pairs.
EUR/USD Technical Breakdown
In the 4-hour timeframe, after the previous uptrend, EUR/USD has entered a consolidation phase. However, bearish momentum is more visible:
✔ SMA 7 is sloping downward and positioned above candles, reinforcing selling pressure.
✔ Given the EUR/USD and EURX analysis, we can afford to be more aggressive with short positions while remaining cautious with longs.
Trade Setups & Key Levels
📉 Short Setup:
📈 Long Setup:
⚠ Important: These levels mark the highs and lows of the 4H consolidation zone, meaning whichever way price breaks, it’s likely to continue in that direction.
Thanks for sticking around until the end—drop your thoughts in the comments & let me know your setups! See you in the next analysis <3
EURX Analysis
Looking at the EURX chart, after a secondary uptrend, we’ve formed an upward channel. When price enters a channel after a sharp uptrend, it typically signals a loss of momentum, increasing the chances of a continuation of the major downtrend—which is exactly what’s happening now.
Currently, price is testing a key support at 1037.8. This is a critical level, and if broken, we can expect further downside for EUR pairs.
EUR/USD Technical Breakdown
In the 4-hour timeframe, after the previous uptrend, EUR/USD has entered a consolidation phase. However, bearish momentum is more visible:
✔ SMA 7 is sloping downward and positioned above candles, reinforcing selling pressure.
✔ Given the EUR/USD and EURX analysis, we can afford to be more aggressive with short positions while remaining cautious with longs.
Trade Setups & Key Levels
📉 Short Setup:
- Trigger: Break below 1.07124
- Confirmation: RSI breaking support at 34.40 & increasing bearish momentum
- Target: Next support at 1.07154
📈 Long Setup:
- Trigger: Break above 1.09453
- Confirmation: Strong bullish momentum & breakout of consolidation range
⚠ Important: These levels mark the highs and lows of the 4H consolidation zone, meaning whichever way price breaks, it’s likely to continue in that direction.
Thanks for sticking around until the end—drop your thoughts in the comments & let me know your setups! See you in the next analysis <3
Trade closed: target reached
After the break of 1.07124 support and activation of our short trigger, the safest SL placement gave us a solid 2 reward/risk ratio. 📉🔥 If you took this trade with me, drop a comment and let me know how it played out! Let’s track these setups together and see if the triggers I share are working for you.
Much love, guys! ❤️ See you in the next analysis!
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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.