The daily chart of EUR/USD (Euro vs. U.S. Dollar) highlights a bearish setup. The price has recently retraced to the 61.8% Fibonacci retracement level, a common reversal point in trending markets. This retracement coincides with a descending trendline, adding to the confluence of resistance in the highlighted area.
Key observations:
1. Resistance Zone: The price...
The 4-hour chart of XAU/USD (Gold Spot vs. U.S. Dollar) shows a clear bearish trend, with price respecting a descending trendline. A key resistance zone, highlighted in purple, has caused a rejection as the price failed to break through. This aligns with the ongoing downward momentum, suggesting the potential for further declines.
The analysis predicts a downward...
The chart highlights the recent breakdown below a key support level and the potential for further declines if the market continues to favor the yen. I've marked significant Fibonacci retracement levels and the ascending trend line that has been providing support, which could be crucial areas for a bounce or further bearish continuation. Given the current...
On the 4-hour chart, we're observing a persistently bearish trend that has methodically captured all the liquidity levels above the current price. This downward movement is quite notable. Directly beneath the current market position, we see the formation of equal lows, which are now acting as a significant attractor for the price, almost like a magnet drawing it...
It appears that the EUR/USD could have reached its low point for the year, suggesting the possibility of an upcoming upward movement. A weekly reversal seems likely! 📈
As we closely monitor the charts, several factors indicate that the euro might be poised for a comeback. The recent price action shows signs of stabilization, and key support levels are holding....
