📌 EURUSD 4H – Testing Upper Channel | Eyes on 1.1600-1.1666
🕓 June 12, 2025
👤 By: MJTrading
🔍 Technical Overview:
EURUSD continues its upward trajectory within a clean ascending channel, respecting both dynamic structure and EMA support zones. We're now retesting a key confluence area:
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🔻 Bearish Setup Idea:
Entry Zone: 1.1570–1.1600
Stop Loss: Above 1.16666 (round number & psychological resistance)
Target: Channel midline (~1.1450) or lower band (~1.1380)
🧠 Why This Zone Matters:
🔺 Previous Swing Highs: Price is revisiting the April peak zone (~1.1570)
🧱 Round Number Confluence: 1.1600 & 1.1666
📉 Rising Channel Resistance: Upper boundary hit after extended leg
🔄 Potential Mean Reversion: EMAs are lagging behind price
⚠️ Invalidation:
A clean break and close above 1.1700 with follow-through may invalidate short bias and signal continuation toward 1.1800+
💬 Patience is power. Let the levels do the talking.
📎 #EURUSD #ForexAnalysis #TechnicalTrading #SmartMoney #PriceAction #RoundNumberLevels #MJTRADING
🕓 June 12, 2025
👤 By: MJTrading
🔍 Technical Overview:
EURUSD continues its upward trajectory within a clean ascending channel, respecting both dynamic structure and EMA support zones. We're now retesting a key confluence area:
==============================================================
🔻 Bearish Setup Idea:
Entry Zone: 1.1570–1.1600
Stop Loss: Above 1.16666 (round number & psychological resistance)
Target: Channel midline (~1.1450) or lower band (~1.1380)
🧠 Why This Zone Matters:
🔺 Previous Swing Highs: Price is revisiting the April peak zone (~1.1570)
🧱 Round Number Confluence: 1.1600 & 1.1666
📉 Rising Channel Resistance: Upper boundary hit after extended leg
🔄 Potential Mean Reversion: EMAs are lagging behind price
⚠️ Invalidation:
A clean break and close above 1.1700 with follow-through may invalidate short bias and signal continuation toward 1.1800+
💬 Patience is power. Let the levels do the talking.
📎 #EURUSD #ForexAnalysis #TechnicalTrading #SmartMoney #PriceAction #RoundNumberLevels #MJTRADING
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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.