Traders,
Analyzing the EUR/USD 2H chart, we're seeing a downtrend with price action below the EMA (21, close, 0, SMA). The pair is facing resistance at the downward trendline and EMA, signaling bearish control.
Entry Strategy: Consider a short entry if the price rejects off the trendline or the EMA, with a current level around 1.08575.
Target: Set the first target at recent swing low around 1.08193, near the support line.
For those thinking of going long, watch for a break above the EMA and trendline, confirming a potential reversal.
Analyzing the EUR/USD 2H chart, we're seeing a downtrend with price action below the EMA (21, close, 0, SMA). The pair is facing resistance at the downward trendline and EMA, signaling bearish control.
Entry Strategy: Consider a short entry if the price rejects off the trendline or the EMA, with a current level around 1.08575.
Target: Set the first target at recent swing low around 1.08193, near the support line.
For those thinking of going long, watch for a break above the EMA and trendline, confirming a potential reversal.
Sheena Lynne