Euro / U.S. DollarShort
EUR/USD Market Analysis: Key Points.
The EUR/USD pair is currently caught in a consolidation phase, fluctuating within a defined range. Here are the crucial points to note for potential trading strategies:
Resistance Level: The pair faces a significant resistance at 1.06528. If it fails to break this level, it may present a selling opportunity.
Support Level: There is strong support at 1.04007. A drop towards this point could be expected if resistance holds.
Bearish Trend Indicator: The descending moving average above the price action suggests a bearish trend, reinforcing the likelihood of a downward move.
Trading Strategy: Consider a short position if the price does not surpass the 1.06528 resistance, with a target near the 1.04007 support, setting a stop loss slightly above the resistance to mitigate risk.
Resistance Level: The pair faces a significant resistance at 1.06528. If it fails to break this level, it may present a selling opportunity.
Support Level: There is strong support at 1.04007. A drop towards this point could be expected if resistance holds.
Bearish Trend Indicator: The descending moving average above the price action suggests a bearish trend, reinforcing the likelihood of a downward move.
Trading Strategy: Consider a short position if the price does not surpass the 1.06528 resistance, with a target near the 1.04007 support, setting a stop loss slightly above the resistance to mitigate risk.
✅You can get 5 - 7 gold signals - Forex every day
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+HpvXxXyesls0YmM1
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+HpvXxXyesls0YmM1
Related publications
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.