EURUSD 1H Long
EUR/USD 1-hour chart shows a reversal trade setup price action wise as price failed to make new lows. Price initially broke above the red Ichimoku cloud but failed to hold, signaling a bearish rejection at cloud resistance. The Kijun-Sen (red line) acted as dynamic resistance, while the price retraced and showed rejection near this level. This, combined with the bearish candle formation, suggests a potential reversal to the downside, with the cloud and Kijun-Sen providing technical confirmation.
Note
Trade reached stoploss
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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.