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U.S. DOLLAR / EURO REFERENCE RATE

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EUR/USD Daily Chart Analysis – Smart Money Perspective Current Market Bias: Bearish The price action indicates that the overall structure remains bearish, with lower highs and lower lows being formed. Despite recent bullish retracements, the price has failed to break key resistance levels, signaling that sellers remain in control. Key Areas on the Chart: 1. Order Block (OB) & Fair Value Gap (FVG) Zone: • The highlighted gray zone represents an order block (OB), which is a supply area where institutions likely placed large sell orders. • The presence of a fair value gap (FVG) within this zone indicates an inefficiency in price, making it a strong area for potential reversals. • Price recently tapped into this area and reacted downward, confirming bearish momentum. 2. Liquidity Grab Possibility: • The lower dashed line represents a previous swing low, where liquidity (stop-loss orders) is likely resting. • Smart Money often seeks liquidity before reversing or continuing trends. • There is a high probability that price will sweep this low before any potential bullish move occurs. 3. Market Structure Shift for a Bullish Setup: • Although the bias remains bearish, a market structure shift (MSS) is required before considering any long (buy) setups. • A key level to watch is 1.05351, where a break above could signal a reversal. • Until then, selling pressure is likely to dominate. Conclusion & Trade Plan: • Bearish bias remains active. • Price might sweep the previous low to grab liquidity before a potential reversal. • A confirmed market structure shift above 1.05351 is required for bullish confirmation. • Until that happens, traders should focus on shorting opportunities near supply zones or order blocks. Final Thought: By following Smart Money Concepts (SMC), traders can align their trades with institutional movements. Patience is key—wait for confirmations before entering positions. Keep an eye on liquidity sweeps and market structure shifts for the best trade setups.
Short
by Trade_lyst
5
EUR/USD wobbles ahead of US NFP reportEUR/USD is currently stable around the 1.0400 level, but the outlook for the Euro (EUR) remains uncertain due to concerns that the Eurozone may face losses from higher tariffs imposed by U.S. President Donald Trump. Last weekend, President Trump warned that Europe would certainly face tariffs for not buying enough U.S. goods, although he did not provide many details. From a technical perspective, the EUR/USD pair could face downward pressure in the short term. The support level at 1.0228 is preventing the pair from dropping further, while the resistance at 1.0418 is the main reason for the temporary decline. To manage risk, you may set a **Stop Loss (SL)** at 1.0450, just above the resistance level to protect against further upward movement. **Take Profit (TP)** can be set at the support level of 1.0228, where the pair may find stability and potentially recover. However, these levels can be adjusted based on your strategy and trading time frame.
by Brigi_ta
a bearish order block failed to hold the price in it. Here’s an analysis of the situation: Bearish Order Block Defined: The bearish order block is the last bullish candle before a significant downward movement, often acting as a supply zone where sellers are expected to be strong. Reasons for the Wick Break: Liquidity Grab (Stop Hunt): The wick could represent a liquidity grab, where price briefly breaks above the bearish order block to trigger stop-loss orders placed by sellers or to entice breakout buyers before reversing. Market Imbalance: There could have been a need to fill orders at higher levels due to prior inefficiencies or imbalance in the market. Strong Bullish Momentum: If buyers were dominant, the bearish order block might have failed to hold the price, albeit temporarily. News or Economic Events: Unexpected news or data releases could cause a spike in volatility, leading to such wick formations. Outcome of the Wick: Following the wick, it seems the price returned below the bearish order block, indicating that it was likely a false breakout or liquidity grab, and the bearish order block remained relevant. I also love to here more solutions from you. Feel free to comment...
Short
by yjp1155
2
Eurusd Will Push Downwards For sureThe EUR/USD currency pair presents a strong opportunity for traders, with a high probability of downward movement. The market conditions, technical indicators, and fundamental factors suggest a bearish trend. A combination of resistance levels, economic data, and institutional sell-offs indicate that the euro may weaken against the dollar. If traders position themselves correctly, they can generate significant profits from this move. Short-selling or using options strategies can maximize gains. Additionally, global economic trends, such as inflation concerns, interest rate differentials, and central bank policies, support this bearish outlook. For those willing to take calculated risks, this is an opportunity to capitalize on market movements. Proper risk management, stop-loss strategies, and a clear entry-exit plan can ensure profitability while minimizing losses. If executed well, this trade could yield substantial returns.
Short
by manas_mk14
1
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD s of February 6, 2025, the EUR/USD pair is trading near the 1.0385 resistance level, with recent movements suggesting a potential continuation of the bullish **Technical Overview:** - **Current Price:** pproximately 1.0385- **Resistance Levels:** .0385, 1.0455- **Support Levels:** .0325, 1.0200 **Technical Indicators:** - **Trend:** he pair is attempting to breach the key resistance at 1.0385, indicating a possible continuation of the bullish trend.- **Moving Averages:** rading above the 50-day EMA supports the positive outlook. **Trade Recommendation:** onsidering the current technical indicators, initiating a **buy** position could be favorable if the price successfully breaks above the 1.0385 resistance level. - **Entry Point:** uy at 1.0400- **Take Profit (TP):** .0455- **Stop Loss (SL):** .0350 **Risk Management:** his trade setup offers a 1.1:1 reward-to-risk ratio.nsure that your position size aligns with your risk tolerance and overall trading strategy.iven the current market conditions, it's crucial to employ strict risk management practices. **Conclusion:** he EUR/USD pair is testing key resistance levels, and a successful breach could signal a continuation of the bullish trend.raders should monitor price action closely and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Long
by FX_MONSTER_EURUSD
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD s of February 5, 2025, the EUR/USD pair is trading near 1.0320, reflecting ongoing market reactions to recent geopolitical developments, including the U.S. administration's imposition of additional tariffs on imports from China.citeturn0news10 **Technical Overview:** - **Current Price:** .0320- **Resistance Levels:** .0400, 1.0500- **Support Levels:** .0300, 1.0200 **Technical Indicators:** - **Trend:** he pair is currently in a bearish trend, with recent declines bringing it close to key support levels.- **Relative Strength Index (RSI):** he RSI is approaching oversold territory, suggesting potential for a corrective rebound.- **Moving Averages:** he price is trading below both the 50-day and 200-day moving averages, reinforcing the bearish outlook. **Trade Recommendation:** iven the current technical indicators and market conditions, initiating a **buy** position could be considered if the price shows signs of stabilizing above the 1.0300 support level. - **Entry Point:** uy at 1.0330- **Take Profit (TP):** .0450- **Stop Loss (SL):** .0280 **Risk Management:** his trade setup offers a 2.4:1 reward-to-risk ratio.nsure that your position size aligns with your risk tolerance and overall trading strategy.iven the current volatility, it's crucial to employ strict risk management practices. **Conclusion:** he EUR/USD pair is approaching key support levels, and technical indicators suggest a potential for a corrective rebound.raders should monitor price action closely and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Long
by FX_MONSTER_EURUSD
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of February 4, 2025, the EUR/USD pair is experiencing significant volatility, primarily due to recent geopolitical developments, including the U.S. administration's imposition of tariffs on imports from Mexico, Canada, and China. These actions have led to heightened market turbulence and a notable decline in the euro. **Technical Overview:** - **Current Price:** 1.0277 - **Resistance Levels:** 1.0300, 1.0350 - **Support Levels:** 1.0200, 1.0150 **Technical Indicators:** - **Trend:** The pair is currently in a bearish trend, having broken below key support levels. - **Relative Strength Index (RSI):** The RSI is approaching oversold territory, indicating potential for a corrective rebound. - **Moving Averages:** The price is trading below both the 50-day and 200-day moving averages, reinforcing the bearish outlook. **Trade Recommendation:** Given the prevailing bearish momentum, initiating a **buy** position carries significant risk. However, if you anticipate a corrective rebound, consider the following cautious approach: - **Entry Point:** Wait for a confirmed break above the immediate resistance at 1.0300 before entering a buy position. - **Take Profit (TP):** 1.0400 - **Stop Loss (SL):** 1.0200 **Risk Management:** This trade setup offers a 1:1 reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. Given the current volatility, it's crucial to employ strict risk management practices. **Conclusion:** The EUR/USD pair is currently under significant bearish pressure due to geopolitical factors and technical breakdowns. While a corrective rebound is possible, any buy positions should be approached with caution, and traders should be prepared for potential further declines. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Long
by FX_MONSTER_EURUSD
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of February 3, 2025, the EUR/USD pair has experienced a significant bearish movement, opening with a strong bearish gap that pushed the price to touch the extended target at 1.0220. This decline is attributed to recent geopolitical developments, including the U.S. administration's decision to impose tariffs on Canada and Mexico, with potential expansion to European Union countries. **Technical Overview:** - **Current Price:** 1.0220 - **Resistance Levels:** 1.0300, 1.0325 - **Support Levels:** 1.0220, 1.0100 **Technical Indicators:** - **Trend:** The pair is currently in a bearish trend, having broken below key support levels. - **Relative Strength Index (RSI):** The RSI is approaching oversold territory, indicating potential for a corrective rebound. - **Moving Averages:** The price is trading below both the 50-day and 200-day moving averages, reinforcing the bearish outlook. **Trade Recommendation:** Given the current market conditions and technical indicators, initiating a **buy** position carries significant risk due to the prevailing bearish momentum. However, if you anticipate a corrective rebound, consider the following cautious approach: - **Entry Point:** Wait for a confirmed break above the immediate resistance at 1.0300 before entering a buy position. - **Take Profit (TP):** 1.0400 - **Stop Loss (SL):** 1.0200 **Risk Management:** This trade setup offers a 1:1 reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. Given the current volatility, it's crucial to employ strict risk management practices. **Conclusion:** The EUR/USD pair is currently under significant bearish pressure due to geopolitical factors and technical breakdowns. While a corrective rebound is possible, any buy positions should be approached with caution, and traders should be prepared for potential further declines. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Long
by FX_MONSTER_EURUSD
EURUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
Trading RoadmapOptions are highly sensitive to market volatility. Significant price swings can lead to substantial gains or losses. A trader might buy a put option expecting a stock to drop. If the stock instead surges in price due to unforeseen events, the value of the put option plummets. Market Volatility: The futures and options markets are known for their high volatility, meaning prices can change rapidly and unpredictably. If you happen to be on the wrong side of one of these price swings, you can lose a tremendous amount of money in a very short amount of time.
Education
by SkyTradingZone
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of January 31, 2025, the EUR/USD pair is exhibiting signs of a potential bullish movement. **Market Pulse** The EUR/USD is currently trading within an ascending channel, indicating a short-term bullish trend. The pair is testing the support area near 1.0395, suggesting a possible rebound and continuation of the upward movement **Key Technical Levels** - **Resistance:** 1.0485 - **Support:** 1.0395 **Technical Indicators** - **Trend:** The pair is moving within an ascending channel, indicating a short-term bullish trend. - **RSI:** A rebound from the support line on the RSI indicator suggests a potential upward movement. **Trade Recommendation** Considering the technical indicators and the prevailing bullish trend, initiating a **buy** position is advisable. - **Entry Point:** Buy at 1.0400 - **Take Profit (TP):** 1.0635 - **Stop Loss (SL):** 1.0325 **Risk Management** This trade setup offers a favorable reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. **Conclusion** The EUR/USD pair is showing signs of a potential bullish movement, supported by technical indicators. Traders should monitor key levels and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Long
by FX_MONSTER_EURUSD
EURUSD Daily BiasDescription: EURUSD is exhibiting a bearish structure on the daily timeframe, indicating a move from internal liquidity (IRL) to sell side external liquidity (ERL/SSL). Analysis: Market Structure: Price is respecting a bearish trend, with lower highs and lower lows forming. A recent liquidity grab from internal liquidity suggests further downside movement. Liquidity Considerations: Internal liquidity (IRL) has been taken, with sell-side liquidity building below key lows. External liquidity (ERL) at lower levels may act as the next target. Key Levels: Monitor previous support zones, imbalance areas, and liquidity pools for potential reaction points. Trade Confirmation: Look for bearish rejections, supply zone retests, or institutional candle confirmations before entering a short position. Trading Plan: Entry: On a retracement to a premium level or a key resistance zone. Stop Loss: Above recent swing highs or supply zones. Take Profit: Target external liquidity levels below, aligning with market structure. Risk Management: Always use proper risk management, adjusting position sizes accordingly to mitigate potential losses. Stay updated with macroeconomic factors that may impact EURUSD volatility.
Short
by k4u5h47
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of January 30, 2025, the EUR/USD pair is exhibiting signs of a potential bullish movement. **Market Pulse** The EUR/USD is currently trading within an ascending channel, indicating a short-term bullish trend. The pair is testing the support area near 1.0395, suggesting a possible rebound and continuation of the upward movement. **Key Technical Levels** - **Resistance:** 1.0485 - **Support:** 1.0395 **Technical Indicators** - **Trend:** The pair is moving within an ascending channel, indicating a short-term bullish trend. - **RSI:** A rebound from the support line on the RSI indicator suggests a potential upward movement. **Trade Recommendation** Considering the technical indicators and the prevailing bullish trend, initiating a **buy** position is advisable. - **Entry Point:** Buy at 1.0400 - **Take Profit (TP):** 1.0635 - **Stop Loss (SL):** 1.0325 **Risk Management** This trade setup offers a favorable reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. **Conclusion** The EUR/USD pair is showing signs of a potential bullish movement, supported by technical indicators. Traders should monitor key levels and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Short
by FX_MONSTER_EURUSD
Part 1: How to Analyze Events in the Forex Market? The forex market is one of the most dynamic and volatile financial markets in the world. It is deeply influenced by global events, economic data, and geopolitical developments. Traders who understand how to analyze these events can make informed decisions and capitalize on market movements. Influence Of the Global Events: The forex market is directly linked to global economic health. Since currencies represent the economies of their respective countries, any significant event like an interest rate decision, inflation data, or geopolitical conflict. It can cause major fluctuations in currency prices. Here’s global events play important role: - Central Bank Policies: When the Federal Reserve (Fed) or European Central Bank (ECB) changes interest rates, it impacts global liquidity and investment flows. - Economic Data Releases: GDP growth, inflation, and employment reports provide insights into economic stability, affecting investor confidence. - Geopolitical Events: Wars, elections, trade agreements, and diplomatic conflicts impact currency demand and risk sentiment. What Happens When News Is Published? When a major economic event or news release occurs, the forex market reacts instantly. Here’s the typical stages of events: Stage 1: Market Expectations: Before the news release, traders anticipate the outcome based on forecasts. The market often prices in expectations. Stage 2: Immediate Volatility: If the actual data differs from the forecast, there’s a sharp price movement in the affected currency pairs. Stage 3: Liquidity Fluctuations: Spreads widen, and liquidity dries up momentarily as traders rush to execute orders. Stage 4: Short-Term Correction: After the initial reaction, the market stabilizes, and price action follows the broader trend. Major Events: Central Bank Meetings – Institutions like the Fed, ECB, BoJ, and BoE set monetary policies. Interest rate hikes strengthen a currency, while rate cuts weaken it. Forward guidance also plays a role in shaping long-term trends. Inflation Reports (CPI & PPI): These measure inflation levels, influencing central bank decisions. Higher inflation often leads to interest rate hikes, strengthening the currency, while lower inflation may result in monetary easing, weakening it. Employment Data (NFP & Job Reports) – The US Non-Farm Payrolls (NFP) report is a key indicator. Strong job growth supports a stronger USD, while weak employment data signals economic trouble. GDP Growth Reports –:A higher-than-expected GDP growth rate boosts investor confidence and strengthens the currency, while economic contraction leads to depreciation. Political & Geopolitical Events: Elections, government policies, trade wars, and conflicts create uncertainty, often pushing investors toward safe-haven currencies like the USD, JPY, or CHF. One's Loss, Another's Win: When the U.S. releases strong economic data, such as higher-than-expected GDP growth, strong job reports (NFP), or an interest rate hike by the Federal Reserve, The demand for the U.S. dollar increases. This leads to USD appreciation against other currencies, including the euro. For example, ---> EUR/USD falls : USD is gaining strength, it takes fewer dollars to buy 1 euro, causing the EUR/USD exchange rate to drop. ---> USD/EUR rises : USD is now wortth more, the inverse exchange rate (USD/EUR) increases, meaning 1 USD can now buy more euro. Key strategies for trading events: •Stay Ahead with an Event Calendar: Keep track of important economic events and central bank meetings to anticipate potential market-moving news. • Gauge Market Expectations: Understand forecasts and market sentiment before the event to predict how the market might react. • Implement Stop-Loss Orders: Protect your trades from excessive risk by setting stop-loss orders to cap potential losses during volatile moves. • Wait for Market Stability: Allow the market to settle after the event to avoid getting caught in the initial volatility and better assess the trend. • Evaluate the Market’s Response: Assess the immediate market reaction to the event to identify if the initial price move is sustainable or a short-term spike. Drawbacks of Trading News: High Volatility & Whipsaws: Prices can spike in both directions before settling on a trend, leading to stop-loss hunting. Widened Spreads: During news releases, brokers often widen spreads, increasing trading costs. Slippage: Rapid price movements can lead to orders being executed at unexpected prices. Emotional Trading: Sudden market swings can trigger impulsive decisions, leading to losses. Market Manipulation: Big players and institutions often move the market unpredictably before major news releases. In the next part, we will focus on the specific events and strategies.
Education
by forextidings
What Next In EURUSD Key Levels: 1. Resistance Levels: o The red supply zone above (around 1.04500) represents a key resistance area. Price has rejected this level in the past, showing that sellers are active there. o Another small resistance zone is identified near 1.04390 from previous candles. 2. Support Levels: o The light blue demand zone below (1.04126) acts as a significant support area. Buyers stepped in here previously, causing a rally. o A second support level is near 1.04100, aligning with the current price's point of interest (POI). ________________________________________ Market Behavior: 1. Range-Bound Price Action: o The note on the chart mentions that the price was in a range yesterday. This is evident as price oscillates between the resistance zone (1.04500) and the demand/support zone (1.04126). o Breakout confirmation (upward or downward) is crucial for clarity on the next trend. 2. Current Price: o The price is currently testing the demand zone (POI Level). If it holds, we may see a bounce back toward resistance at 1.04500. ________________________________________ 💡 Technical Indicators: 1. Exponential Moving Average (EMA): o The price is hovering near the blue EMA line, which is likely a 50-period EMA. This suggests a mixed market sentiment where buyers and sellers are evenly matched. o A strong price reaction above or below the EMA can indicate the next potential trend. ________________________________________ 📊 Supply and Demand Zones: 1. Supply Zone: o The red supply zone at the top indicates strong selling pressure. Price will need strong momentum to break through it. 2. Demand Zone: o The light blue demand zone has seen active buyers before. It's a critical level for bulls to maintain to avoid further downside. ________________________________________ 📊 Trading Plan: 1. For Buyers: o Wait for a bullish reaction from the demand zone (1.04126) and a possible breakout above the range (1.04500) to target higher levels. o A bounce off the EMA would also signal bullish momentum. 2. For Sellers: o Look for a rejection at the resistance zone (1.04500) or a confirmed break below the demand zone at 1.04126 for shorting opportunities. ________________________________________ ⚠️Recommendation: • Wait for Breakout: o Avoid trading in the current range until a breakout occurs, as it is unclear if the price will move higher or lower. o Monitor for volume and candlestick patterns at key levels (rejections or breakouts). This chart currently exhibits consolidation, requiring a patient approach for clarity on the next directional move. 👉 Always follow TP/SL to protect your capital and maximize profits! Stay tuned for updates once the confirmations are in place! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! 📢Best Regards , Silver Wolf Traders Community Disclaimer: This is for educational purposes only. Always trade responsibly and manage your risk effectively
by silverwolftraders029
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of January 29, 2025, the EUR/USD pair is exhibiting signs of a potential bullish movement. **Market Pulse** The EUR/USD is currently trading within an ascending channel, indicating a short-term bullish trend. The pair is testing the support area near 1.0395, suggesting a possible rebound and continuation of the upward movement. **Key Technical Levels** - **Resistance:** 1.0485 - **Support:** 1.0395 **Technical Indicators** - **Trend:** The pair is moving within an ascending channel, indicating a short-term bullish trend. - **RSI:** A rebound from the support line on the RSI indicator suggests a potential upward movement. **Trade Recommendation** Considering the technical indicators and the prevailing bullish trend, initiating a **buy** position is advisable. - **Entry Point:** Buy at 1.0400 - **Take Profit (TP):** 1.0635 - **Stop Loss (SL):** 1.0325 **Risk Management** This trade setup offers a favorable reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. **Conclusion** The EUR/USD pair is showing signs of a potential bullish movement, supported by technical indicators. Traders should monitor key levels and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Long
by FX_MONSTER_EURUSD
EURUSD - PRICE ACTION CONFIRMS TREND REVERSALSymbol - EURUSD The EURUSD currency pair has broken its previous trend, emerging from a consolidation phase and reaching new highs, which signals a definitive shift in market direction. The primary focus now shifts to the resistance zones, where significant market struggles are expected. The ongoing correction of the US dollar, largely driven by political and geopolitical factors, presents opportunities within the forex market. The EURUSD has been strengthening for the past month, suggesting promising prospects, particularly if the dollar's correction continues. This week, attention is on the Federal Reserve's rate decision and the inflation meeting, which could provide further support for the current market movement. From a technical perspective, the key support level to watch is at 1.0445. If the bulls are able to maintain this support, the price may move towards the 1.0600 - 1.0700 range in the short to medium term. Resistance levels: 1.0530, 1.0610 Support level: 1.0445 The price has already tested the 1.0445 level. A potential false breakdown could occur, aimed at capturing liquidity, after which the pair is likely to resume its upward momentum, driven by renewed interest from buyers in the euro.
Long
by akshit_official
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of January 28, 2025, the EUR/USD pair is encountering significant overhead resistance, suggesting a potential opportunity for a **sell** entry. **Market Pulse** The EUR/USD is struggling below key resistance at 1.06 as traders await Federal Reserve and European Central Bank decisions. The pair has been in a downtrend, and the current rally may present a selling opportunity. )) **Key Technical Levels** - **Resistance:** 1.0600 - **Support:** 1.0300 **Technical Indicators** - **Trend:** The pair remains in a downtrend, with the recent rally approaching significant resistance levels. - **RSI:** The Relative Strength Index is approaching overbought territory, indicating potential for a reversal. - **MACD:** The Moving Average Convergence Divergence shows diminishing bullish momentum, suggesting a possible downturn. **Trade Recommendation** Considering the technical indicators and the prevailing downtrend, initiating a **sell** position is advisable. - **Entry Point:** Sell at 1.0580 - **Take Profit (TP):** 1.0300 - **Stop Loss (SL):** 1.0650 **Risk Management** This trade setup offers a favorable reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. **Conclusion** The EUR/USD pair is facing significant resistance, and technical indicators suggest a potential reversal. Traders should monitor key levels and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Short
by FX_MONSTER_EURUSD