Potential Short EURUSD Longterm Based on D1, W1 + M1 Charts

With the recent EURUSD rally we have come back up to 1.13x and we are fast approaching a Major Resistance Zone. In fact, the last time price was able to breach and close above this resistance zone on the Weekly timeframe was the 29th of September 2003 !!

Price has retested this zone multiple times and failed to keep above it. I will continue to monitor on multiple time frames.

This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.

Please comment below and Like if you agree with my analysis.

Trade active:

3 days in, 90 pips profit. Going well so far, although I am expecting after 250-300 pip profit we might see a push up to around 1.16 before we drop any further but time will tell.

Trade closed manually:

Just to update - I did close this position manually for a small profit. It could still drop but for now, I am not opening any new positions.