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What are your thoughts on EURUSD?
EUR/USD has broken below the 1.1500 support zone and is currently approaching a key resistance area. This zone is reinforced by the descending trendline, the former support turned resistance, and the 50%–61.8% Fibonacci retracement, creating a strong confluence resistance.
As long as price remains below this resistance, the broader bearish outlook remains valid. A break below the short-term ascending trendline would confirm the end of the corrective rebound and strengthen the bearish continuation scenario, exposing the next downside targets.
However, a daily close above the resistance zone would invalidate this bearish outlook.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on EURUSD?
EUR/USD has broken below the 1.1500 support zone and is currently approaching a key resistance area. This zone is reinforced by the descending trendline, the former support turned resistance, and the 50%–61.8% Fibonacci retracement, creating a strong confluence resistance.
As long as price remains below this resistance, the broader bearish outlook remains valid. A break below the short-term ascending trendline would confirm the end of the corrective rebound and strengthen the bearish continuation scenario, exposing the next downside targets.
However, a daily close above the resistance zone would invalidate this bearish outlook.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
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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.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅ MY INSTAGRAM :
instagram.com/marketanalaysis
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.