This chart shows the EUR/USD (Euro to US Dollar) on the 1-hour timeframe, with technical analysis suggesting a potential price drop soon. Here’s a breakdown of the key elements:
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Chart Summary:
• Instrument: EUR/USD currency pair
• Timeframe: 1 Hour
• Current Price: Around 1.12272
• Trend Direction (Expected): Bearish (downward)
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Key Features:
1. Supply and Demand Zones:
• Green/Blue Zones at Top (Around 1.12890 - 1.12901): Likely supply/resistance zone, where selling pressure is high.
• Light Blue Zone at Bottom (Around 1.11380): Likely demand/support zone, where buying interest is expected.
2. Bearish Projection (Arrow):
• The black arrow indicates a forecasted price drop after a small retracement.
• The drop targets the demand zone around 1.11380.
3. Colored Boxes:
• Yellow/Orange Box (1.12661 - 1.12890): Resistance or entry area for a short trade.
• Grey Line (1.12485): May indicate a key level or current breakout area.
• Red Box (1.12272): Current price level.
4. Pattern Indication:
• The chart may be suggesting a lower high formation (bearish signal).
• Past price rejected from a similar high (circled in orange).
⸻
Chart Summary:
• Instrument: EUR/USD currency pair
• Timeframe: 1 Hour
• Current Price: Around 1.12272
• Trend Direction (Expected): Bearish (downward)
⸻
Key Features:
1. Supply and Demand Zones:
• Green/Blue Zones at Top (Around 1.12890 - 1.12901): Likely supply/resistance zone, where selling pressure is high.
• Light Blue Zone at Bottom (Around 1.11380): Likely demand/support zone, where buying interest is expected.
2. Bearish Projection (Arrow):
• The black arrow indicates a forecasted price drop after a small retracement.
• The drop targets the demand zone around 1.11380.
3. Colored Boxes:
• Yellow/Orange Box (1.12661 - 1.12890): Resistance or entry area for a short trade.
• Grey Line (1.12485): May indicate a key level or current breakout area.
• Red Box (1.12272): Current price level.
4. Pattern Indication:
• The chart may be suggesting a lower high formation (bearish signal).
• Past price rejected from a similar high (circled in orange).
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.
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.