Hello traders! Here’s my technical outlook based on the current EURUSD (1H) chart structure. EURUSD was previously trading under pressure from sellers and buyers forming a triangle. After several breakout attempts, the price managed to break above the structure and entered a short-term consolidation range. After that, the market rose but faced a reversal at the pivot point, signaling strong resistance.
Currently, price is trading back inside the descending channel and approaching the 1.1750 supply zone, while holding above the 1.1680 demand zone. A recent reaction from the channel resistance suggests increasing selling pressure.
As long as EURUSD remains below the 1.1750 resistance and respects the descending channel, the bearish bias remains valid. A rejection from this area could push price toward the 1.1680 support (TP1). Manage your risk!
Currently, price is trading back inside the descending channel and approaching the 1.1750 supply zone, while holding above the 1.1680 demand zone. A recent reaction from the channel resistance suggests increasing selling pressure.
As long as EURUSD remains below the 1.1750 resistance and respects the descending channel, the bearish bias remains valid. A rejection from this area could push price toward the 1.1680 support (TP1). Manage your risk!
Trade active
We see that the price has reached the upper limit of the channel, where sellers have gradually begun to react. We will continue to monitor the market!
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🔶 Free telegram channel👉 t.me/heniitrading
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
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.