EURUSD Rejection at Resistance – Short Setup in Play

Apr 9

Hello traders! Here’s my technical outlook based on the current EURUSD (2H) chart structure. Price previously shifted into an ascending channel after finding support near the buyer zone, forming higher lows and showing bullish momentum. However, the market is now approaching a strong resistance area. Currently, price is testing the 1.1690 resistance (seller zone) and showing signs of rejection, while the structure begins to weaken near the top of the channel. This creates a potential short setup from resistance. As long as EURUSD remains below the 1.1690 resistance and fails to break higher, the bearish scenario becomes valid. A rejection from this zone could push price back toward the 1.1630 support (TP1). Please share this idea with your friends and click Boost 🚀

Apr 10

Trade active

The Euro tested resistance again and failed to consolidate higher. Sellers pushed back the price again. So now I expect a decline to our target!

Apr 12

Order cancelled

We can see that buyers are very active at this level and we were unable to hold the resistance level. Therefore, the scenario is canceled!