KABHI_FOREX_TRADING

EURUSD H4 channel continuous or breakout ?

Long
FX:EURUSD   Euro / U.S. Dollar
A chart of the EUR/USD currency pair on a 4-hour timeframe. The chart displays a bearish channel pattern.

Bearish channel: The price has been trading within a downward-sloping channel for some time, characterized by a resistance line at the top and a support line at the bottom.

The price is currently trading at Top of channel pattern, if Breaks the Upside then it start Bullish Sign. However, it is still early to say whether this is a genuine breakout or a false signal.

Overall, the chart suggests a potential breakout from a bearish channel, which could be a bullish signal for the EUR/USD pair.

Thank you.
Trade active:
Flash Eurozone PMI: the data showed a slight contraction in Eurozone manufacturing and services activity in February. This could put further downward pressure on the Euro.
Comment:
Price Breaks the Resistance ZOne and now act as Support

👉👉 Join My Telegram Channel :

✳️✳️ Free Forex Signals & Technical Chart : telegram.me/kabhifx

📗📙 Crypto Charts & Analysis : telegram.me/Kabhi_Crypto

📞📞Whatsapp me @ (+91) 97888-12123
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.