The **EUR/USD** 1-hour chart shows price recovering after a recent drop, but the market is still trading below a key resistance zone around **1.1640 – 1.1660**. Price is currently moving near the **Ichimoku cloud edge**, which suggests a possible rejection before continuation to the downside.
The previous bullish trendline has already been broken, indicating weakening bullish momentum. If price fails to break above the resistance area, sellers may step in and push the market lower toward the marked support levels.
**Targets:**
🎯 **1st Target:** 1.1600 – key support and first downside reaction level.
🎯 **2nd Target:** 1.1560 – deeper bearish continuation zone if selling pressure increases.
**Trading Idea:**
As long as price remains below the resistance area, the bias remains **bearish**, with a potential move toward the marked targets. A strong breakout above **1.1660** would invalidate the bearish outlook.
Trade active
active active Trade closed: target reached
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join to get daily basis 2-3 free signal for educational purpose
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get information about Gold, BTC and forex market
t.me/+OO7phZHO6g1mN2Y0
t.me/+OO7phZHO6g1mN2Y0
join to get daily basis 2-3 free signal for educational purpose
t.me/+OO7phZHO6g1mN2Y0
get information about Gold, BTC and forex market
t.me/+OO7phZHO6g1mN2Y0
Related publications
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.
