EURUSD Shot Position1) Short-Term Price Action (1H Chart)
EUR/USD FX:EURUSD has strongly broken out of its channel on the 1-hour timeframe and is now trading within the extended channel toward the gap zone.
2) Gap Zone & Key Levels
The gap zone aligns with the 50% level of the larger 4-hour channel.
This zone presents a high potential for price to reverse downward.
3) Reversal & Resistance Zones
The main reversal area could be the resistance zone, especially where it coincides with a strong supply zone.
Both the resistance and supply zones are key levels for potential selling opportunities.
4) Demand Zone & Short-Term Reaction
If price declines, it is likely to reach at least the demand zone, which may trigger a short-term bullish reaction.
5) Risk Disclaimer
This analysis reflects my personal view.
Always trade based on your own strategy and trading system, and strictly follow risk and money management rules.
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