As you see in the 4H time frame, we are facing a strong downtrend and bearish pressure.
Currently, price is in a correction phase and is bouncing between support and resistance levels.
There is a strong support zone (yellow colour) around 1.84 which has pushed the price to the upside in the past, and price is approaching to this zone right now:
If price breaks the yellow support zone and closes a bearish candle below this level, we can expect more drop on EURUSD around 1.076
On the other side, if price gets rejected from the yellow support zone and create a bullish reversal pattern, we should wait for the upside breakout on the red resistance zone and candle closure above it, to expect a rise and reverse around the next resistance point at 1.098
Currently, price is in a correction phase and is bouncing between support and resistance levels.
There is a strong support zone (yellow colour) around 1.84 which has pushed the price to the upside in the past, and price is approaching to this zone right now:
If price breaks the yellow support zone and closes a bearish candle below this level, we can expect more drop on EURUSD around 1.076
On the other side, if price gets rejected from the yellow support zone and create a bullish reversal pattern, we should wait for the upside breakout on the red resistance zone and candle closure above it, to expect a rise and reverse around the next resistance point at 1.098
Join My Telegram Channel:
t.me/Tradia_Channel
Follow My Instagram:
Mahtab_Tradia
My YouTube Channel:
youtube.com/channel/UCLVMX3VGgdo8d02jF99SihQ
t.me/Tradia_Channel
Follow My Instagram:
Mahtab_Tradia
My YouTube Channel:
youtube.com/channel/UCLVMX3VGgdo8d02jF99SihQ