EURUSD is currently trading around 1.14028, testing a strong supply zone marked in blue. Price has previously been rejected at this level, forming a potential double top pattern — a classic bearish reversal signal.
Key Levels:
Resistance (Supply Zone): 1.13820 – 1.14050
Immediate Support: 1.11737
Major Support: 1.09272 (Demand Zone)
Bearish Outlook (Marked with Red Arrows):
If price fails to break and hold above the supply zone, a drop toward 1.11737 is likely.
Further breakdown below 1.11737 opens room for a fall toward the demand zone at 1.09272.
Bullish Invalidations:
A strong bullish breakout above the supply zone with retest and hold would invalidate the bearish idea.
Trade Idea:
Watch for bearish candlestick confirmation at the supply zone (e.g., bearish engulfing, pin bar).
Entry: ~1.14000
TP1: 1.11737
TP2: 1.09272
SL: Above 1.14150
Fundamental Trigger to Watch:
Keep an eye on upcoming EUR or USD news events (CPI, interest rate decisions) for extra confluence.
Let me know your thoughts in the comments. Will the bears take control or will the bulls break through?
Key Levels:
Resistance (Supply Zone): 1.13820 – 1.14050
Immediate Support: 1.11737
Major Support: 1.09272 (Demand Zone)
Bearish Outlook (Marked with Red Arrows):
If price fails to break and hold above the supply zone, a drop toward 1.11737 is likely.
Further breakdown below 1.11737 opens room for a fall toward the demand zone at 1.09272.
Bullish Invalidations:
A strong bullish breakout above the supply zone with retest and hold would invalidate the bearish idea.
Trade Idea:
Watch for bearish candlestick confirmation at the supply zone (e.g., bearish engulfing, pin bar).
Entry: ~1.14000
TP1: 1.11737
TP2: 1.09272
SL: Above 1.14150
Fundamental Trigger to Watch:
Keep an eye on upcoming EUR or USD news events (CPI, interest rate decisions) for extra confluence.
Let me know your thoughts in the comments. Will the bears take control or will the bulls break through?
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✅JOIN FREE SIGNALS t.me/frankfxforextrade
✅FOR VIP DM: t.me/frankfx22
✅ Dbot dbot.frankfxx.com
✅ICMARKETS frankfxx.com/icmarkets
✅ EXNESS frankfxx.com/exness
✅ DERIV frankfxx.com/deriv
✅FOR VIP DM: t.me/frankfx22
✅ Dbot dbot.frankfxx.com
✅ICMARKETS frankfxx.com/icmarkets
✅ EXNESS frankfxx.com/exness
✅ DERIV frankfxx.com/deriv
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.