Hello traders! Here’s my technical outlook based on the current EURUSD (1H) chart structure. EURUSD moved from a consolidation range into a descending channel, forming lower highs and confirming bearish pressure. After a brief range, price was rejected from a pivot high and continued lower.
Currently, price is trading below the 1.1530 supply zone and moving toward the 1.1470 demand zone while staying inside the descending channel.
As long as EURUSD remains below 1.1530 and respects the channel, the bearish bias remains valid. A move lower toward 1.1470 is the main scenario. If price breaks above 1.1530, the bearish setup weakens and a consolidation phase may follow. Manage your risk!
Currently, price is trading below the 1.1530 supply zone and moving toward the 1.1470 demand zone while staying inside the descending channel.
As long as EURUSD remains below 1.1530 and respects the channel, the bearish bias remains valid. A move lower toward 1.1470 is the main scenario. If price breaks above 1.1530, the bearish setup weakens and a consolidation phase may follow. Manage your risk!
Trade active
As we expected after the correction, sellers renewed the pressure and drove the price even lower. In my opinion, another correction will follow and then our target!Trade closed: target reached
Today we see that the descending channel is maintaining its strength and the price continued to fall. We got our target, the analysis worked out quite accurately!
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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.
🔶 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.