Skeptic | EUR/USD Breakdown: Key Levels & Trade SetupsWelcome back, guys! I’m Skeptic, and today we’re diving into a multi-timeframe breakdown of EUR/USD. We’ll analyze EURX (Euro Index) and wrap it up with some high-probability trade setups. Let’s get started! 🚀
EURX Analysis
Looking at the EURX chart, after a secondary uptrend, we’ve formed an upward channel. When price enters a channel after a sharp uptrend, it typically signals a loss of momentum, increasing the chances of a continuation of the major downtrend—which is exactly what’s happening now.
Currently, price is testing a key support at 1037.8 . This is a critical level, and if broken, we can expect further downside for EUR pairs.
EUR/USD Technical Breakdown
In the 4-hour timeframe, after the previous uptrend, EUR/USD has entered a consolidation phase. However, bearish momentum is more visible:
✔ SMA 7 is sloping downward and positioned above candles, reinforcing selling pressure.
✔ Given the EUR/USD and EURX analysis, we can afford to be more aggressive with short positions while remaining cautious with longs.
Trade Setups & Key Levels
📉 Short Setup:
Trigger: Break below 1.07124
Confirmation: RSI breaking support at 34.40 & increasing bearish momentum
Target: Next support at 1.07154
📈 Long Setup:
Trigger: Break above 1.09453
Confirmation: Strong bullish momentum & breakout of consolidation range
⚠ Important: These levels mark the highs and lows of the 4H consolidation zone, meaning whichever way price breaks, it’s likely to continue in that direction.
Thanks for sticking around until the end—drop your thoughts in the comments & let me know your setups! See you in the next analysis <3