EUR/USD has broken below a well-respected descending channel on the 2H chart, suggesting further downside is likely.
🔎 Technical Analysis:
• Price rejected resistance with three clear rejections (🔴 red arrows).
• Breakout below the lower channel boundary is now confirmed, signaling strong bearish momentum.
• MACD shows repeated bearish crossovers (🟠 circles), supporting the trend shift.
• This is no longer just a channel play — momentum suggests a deeper drop.
🎯TP1: 1.1200
🎯TP2: 1.1150
🎯TP3: 1.1100 (major support zone)
🛑 Invalidation: Strong close back above 1.1300 would neutralize the setup and indicate a possible false breakout.
💡 Look for a retest of the broken trendline as resistance for potential re-entry.
🔎 Technical Analysis:
• Price rejected resistance with three clear rejections (🔴 red arrows).
• Breakout below the lower channel boundary is now confirmed, signaling strong bearish momentum.
• MACD shows repeated bearish crossovers (🟠 circles), supporting the trend shift.
• This is no longer just a channel play — momentum suggests a deeper drop.
🎯TP1: 1.1200
🎯TP2: 1.1150
🎯TP3: 1.1100 (major support zone)
🛑 Invalidation: Strong close back above 1.1300 would neutralize the setup and indicate a possible false breakout.
💡 Look for a retest of the broken trendline as resistance for potential re-entry.
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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.
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.