EURUSD ANALYSIS IS READY TO FLY IT IS POSSIBLE
This EUR/USD 4-hour chart analysis highlights the following key components:
1. Downtrend Channel: The price has been trading within a bearish descending channel, marked by the shaded area. This indicates a prevailing downtrend.
2. Key Resistance Zones:
1.04018 to 1.04699 (Stop Loss Area): The red zone marks a significant resistance level. Breaking above this zone could invalidate the bearish outlook.
3. Key Support Levels:
1.02934 and 1.02092: These yellow lines represent potential bounce zones within the current range. They are crucial for continuation of the bearish movement.
Target Zone at 1.01994: A major support level where the price could potentially move if the bearish momentum continues.
4. Potential Price Movement:
The white arrows depict possible price action, suggesting range-bound movement between the resistance and support levels before a potential breakout downward toward the target zone.
5. Trading Strategy:
Sell Position: Open near resistance levels (1.04018–1.04699) with a stop loss above 1.04699.
Target: Focus on the support levels (1.02092 or 1.01994).
Range Trading: Traders can exploit price bounces between 1.02934 and 1.02092 for short-term gains.
This analysis supports a bearish bias, emphasizing cautious monitoring of the key zones for trading opportunities.
1. Downtrend Channel: The price has been trading within a bearish descending channel, marked by the shaded area. This indicates a prevailing downtrend.
2. Key Resistance Zones:
1.04018 to 1.04699 (Stop Loss Area): The red zone marks a significant resistance level. Breaking above this zone could invalidate the bearish outlook.
3. Key Support Levels:
1.02934 and 1.02092: These yellow lines represent potential bounce zones within the current range. They are crucial for continuation of the bearish movement.
Target Zone at 1.01994: A major support level where the price could potentially move if the bearish momentum continues.
4. Potential Price Movement:
The white arrows depict possible price action, suggesting range-bound movement between the resistance and support levels before a potential breakout downward toward the target zone.
5. Trading Strategy:
Sell Position: Open near resistance levels (1.04018–1.04699) with a stop loss above 1.04699.
Target: Focus on the support levels (1.02092 or 1.01994).
Range Trading: Traders can exploit price bounces between 1.02934 and 1.02092 for short-term gains.
This analysis supports a bearish bias, emphasizing cautious monitoring of the key zones for trading opportunities.
כתב ויתור
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