EUR/USD Bearish Rejection at Resistance

Jun 13

The EUR/USD 1-hour chart displays a bearish market structure after a sharp downward impulse from the 1.1640 resistance region. Following the strong sell-off, price formed a temporary recovery and established an ascending trendline, but the bullish momentum weakened as the pair entered a key resistance and supply zone between 1.1565 and 1.1585. The highlighted orange rectangle marks this rejection area where multiple candles failed to break higher, indicating seller dominance. Price is currently consolidating beneath resistance while trading near the bearish cloud zone, suggesting a potential continuation of the downtrend. The chart also shows a projected bearish path, with sellers expected to defend the resistance area and push price lower. A break below the immediate support around 1.1540 would strengthen the bearish outlook and confirm further downside momentum.

Trade Idea: Sell below 1.1565

Resistance Zone: 1.1565 – 1.1585

Stop Loss: 1.1595 (above resistance)

Target 1: 1.1540

Target 2: 1.1520

Final Target: 1.1500 (highlighted demand/support zone)

The overall bias remains bearish as long as price stays below the 1.1585 resistance level, with the 1.1500 demand zone serving as the primary downside objective.

Jun 13

Trade active

Active

Jun 22

Trade closed: target reached

my given target is successfully achieved