Testing Upper Channel Line || Eyes on 1.16 and Previous High

12 Jun

📌 EURUSD 4H – Testing Upper Channel | Eyes on 1.1600-1.1666
🕓 June 12, 2025
👤 By: MJTrading

🔍 Technical Overview:
EURUSD continues its upward trajectory within a clean ascending channel, respecting both dynamic structure and EMA support zones. We're now retesting a key confluence area:

==============================================================
🔻 Bearish Setup Idea:
Entry Zone: 1.1570–1.1600
Stop Loss: Above 1.16666 (round number & psychological resistance)
Target: Channel midline (~1.1450) or lower band (~1.1380)

🧠 Why This Zone Matters:
🔺 Previous Swing Highs: Price is revisiting the April peak zone (~1.1570)
🧱 Round Number Confluence: 1.1600 & 1.1666
📉 Rising Channel Resistance: Upper boundary hit after extended leg
🔄 Potential Mean Reversion: EMAs are lagging behind price


⚠️ Invalidation:
A clean break and close above 1.1700 with follow-through may invalidate short bias and signal continuation toward 1.1800+

💬 Patience is power. Let the levels do the talking.


📎 #EURUSD #ForexAnalysis #TechnicalTrading #SmartMoney #PriceAction #RoundNumberLevels #MJTRADING

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Dagangan aktif

2nd Position Activated