Euro / U.S. DollarShort
Current up channel formation on EURUSD
Price on EURUSD is currently trading within a range and is capped by an up channel formation as indicated in the chart by the purple shading.
This formation is indicates overall bearishness building up on EURUSD making price likely to push down further on the 4 hour time frame.
Key support levels include: 1.1125 and 1.11.
Key resistance levels include: 1.12 and 1.1225
In the case price break below the support trend line (bottom line of the channel) and key support levels, price would likely push down further.
Key targets for short positions include 1.09 and 1.085.
This formation is indicates overall bearishness building up on EURUSD making price likely to push down further on the 4 hour time frame.
Key support levels include: 1.1125 and 1.11.
Key resistance levels include: 1.12 and 1.1225
In the case price break below the support trend line (bottom line of the channel) and key support levels, price would likely push down further.
Key targets for short positions include 1.09 and 1.085.
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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.