Overview:
Pair: EUR/USD
Timeframe: 4-Hour (4H)
Broker: OANDA
Current Price: 1.08436
Trend: Potential Reversal
Technical Analysis:
The EUR/USD pair has been trading within a rising channel, indicating a bullish trend. However, recent price action shows a breakout to the downside, suggesting a potential bearish reversal.
The price failed to sustain above resistance and is now heading lower.
Breakdown confirmation suggests further downside movement.
Target: 1.06166, which aligns with a previous consolidation zone.
Trading Strategy:
📉 Bias: Bearish below the channel breakdown
🎯 Target: 1.06166 (Key Support)
🔍 Confirmation: Additional bearish momentum with lower highs and lower lows
Pair: EUR/USD
Timeframe: 4-Hour (4H)
Broker: OANDA
Current Price: 1.08436
Trend: Potential Reversal
Technical Analysis:
The EUR/USD pair has been trading within a rising channel, indicating a bullish trend. However, recent price action shows a breakout to the downside, suggesting a potential bearish reversal.
The price failed to sustain above resistance and is now heading lower.
Breakdown confirmation suggests further downside movement.
Target: 1.06166, which aligns with a previous consolidation zone.
Trading Strategy:
📉 Bias: Bearish below the channel breakdown
🎯 Target: 1.06166 (Key Support)
🔍 Confirmation: Additional bearish momentum with lower highs and lower lows
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.