EUR/USD – Breakout or Fakeout? Key Levels to Watch!
Hello again
EUR/USD has been pushing higher, testing a key resistance zone. The question is will it break through or get rejected?
📌 Here’s what I’m watching:
1.0541 is the key level price is hovering around. A clean break could push us towards 1.0644 & 1.0747.
If it fails to hold, we might see a retest of 1.0450 and 1.0427.
👀 My Take:
If price stays above 1.0541, we could see bullish continuation. But if we drop below 1.0450, then this might have just been a fakeout before heading lower.
EUR/USD has been pushing higher, testing a key resistance zone. The question is will it break through or get rejected?
📌 Here’s what I’m watching:
1.0541 is the key level price is hovering around. A clean break could push us towards 1.0644 & 1.0747.
If it fails to hold, we might see a retest of 1.0450 and 1.0427.
👀 My Take:
If price stays above 1.0541, we could see bullish continuation. But if we drop below 1.0450, then this might have just been a fakeout before heading lower.
Trade active
Market Update – Key Close Levels
Today's closing price is crucial. If we close above 1.04477, there’s a 75% probability of a bullish move tomorrow. However, a close below this level could be bearish move .
lets wait and see .
Note
As expected, the price hit 1.04276, a key level we were watching. Now, to confirm a potential bullish shift, we need a Daily close above 1.04347.
Key Scenarios:
✔ Bullish Case: If we close above 1.04347, it increases the probability of a rebound, and we’ll need to update our stars and key levels accordingly. This could set the stage for further upside.
❌ Bearish Case: A failure to close above 1.04347 would keep the bearish momentum intact. If 1.04276 breaks, we may see further downside, requiring a fresh analysis.
Trade closed: target reached
Check Our update guys
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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.
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.