EUR/USD Faces Key Support Break – Bearish Continuation Ahead?
EUR/USD 1H Chart Analysis: Bearish Outlook
Key Observations:
Price Rejection from Resistance:
The price attempted to move higher but faced strong resistance around 1.0520 - 1.0540, leading to a rejection.
Support Zone & Breakout Potential (Blue Box):
The market is hovering around a key support area (1.0440 - 1.0460).
A confirmed break below this support zone could lead to further bearish momentum.
Bearish Projection (Red Arrow):
The chart suggests a potential retest of the support before a deeper drop.
If the price fails to reclaim the broken support, it could move toward the next major support around 1.0380 - 1.0400.
Lower High Formation:
A series of lower highs suggest a weakening bullish momentum and a possible shift toward bearish control.
Trading Outlook:
Bearish Bias: If price stays below 1.0460, further downside is likely.
Break & Retest Confirmation: A pullback to 1.0440 - 1.0460 followed by rejection could be an entry signal for sellers.
Target Levels:
Short-term: 1.0400
Extended target: 1.0380
Invalidation: A break above 1.0480 - 1.0500 would weaken the bearish setup.
Conclusion:
Downtrend Formation: Lower highs and break of key support indicate further downside.
Watch 1.0440 - 1.0460: Key level to confirm next move.
Bearish Targets: 1.0400, then 1.0380 if momentum continues.
Key Observations:
Price Rejection from Resistance:
The price attempted to move higher but faced strong resistance around 1.0520 - 1.0540, leading to a rejection.
Support Zone & Breakout Potential (Blue Box):
The market is hovering around a key support area (1.0440 - 1.0460).
A confirmed break below this support zone could lead to further bearish momentum.
Bearish Projection (Red Arrow):
The chart suggests a potential retest of the support before a deeper drop.
If the price fails to reclaim the broken support, it could move toward the next major support around 1.0380 - 1.0400.
Lower High Formation:
A series of lower highs suggest a weakening bullish momentum and a possible shift toward bearish control.
Trading Outlook:
Bearish Bias: If price stays below 1.0460, further downside is likely.
Break & Retest Confirmation: A pullback to 1.0440 - 1.0460 followed by rejection could be an entry signal for sellers.
Target Levels:
Short-term: 1.0400
Extended target: 1.0380
Invalidation: A break above 1.0480 - 1.0500 would weaken the bearish setup.
Conclusion:
Downtrend Formation: Lower highs and break of key support indicate further downside.
Watch 1.0440 - 1.0460: Key level to confirm next move.
Bearish Targets: 1.0400, then 1.0380 if momentum continues.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.