Mahtab_Tradia

EURUSD Drop or Reverse?

FX:EURUSD   Euro / U.S. Dollar
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

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