EURUSD
EUR/USD 4-Hour Analysis: Bearish Continuation with Retest Strategy
Chart Overview:
This EUR/USD 4-hour chart analysis highlights a bearish continuation pattern with a potential retest strategy. The analysis marks critical support and resistance zones, along with key price action areas, indicating potential price movements.
Key Points:
Trend Analysis:
The chart shows a recent bearish trend continuation after a significant drop from the previous highs.
The price has broken below a key support level, which has now turned into resistance.
Support and Resistance Levels:
Support: The next key support level to watch is around 1.0780.
Resistance: The broken support zone around 1.0870 is now acting as resistance (gray zone).
Bearish Continuation Signal:
The price has broken below the critical support level around 1.0870, indicating a strong bearish momentum.
The current price action suggests a potential retest of the broken support level, now acting as resistance, before continuing the bearish move.
Potential Price Path:
The analysis suggests a retest towards the new resistance zone around 1.0870, followed by a bearish continuation towards the next support level around 1.0780.
The projected price path is indicated by the downward arrow, showing the expected move after the retest.
Market Sentiment:
The sentiment is bearish given the strong break below the support level and the formation of lower highs and lower lows.
Traders should look for confirmation of the bearish continuation with lower highs (LH) and lower lows (LL) to validate the trend.
Trading Plan:
Chart Overview:
This EUR/USD 4-hour chart analysis highlights a bearish continuation pattern with a potential retest strategy. The analysis marks critical support and resistance zones, along with key price action areas, indicating potential price movements.
Key Points:
Trend Analysis:
The chart shows a recent bearish trend continuation after a significant drop from the previous highs.
The price has broken below a key support level, which has now turned into resistance.
Support and Resistance Levels:
Support: The next key support level to watch is around 1.0780.
Resistance: The broken support zone around 1.0870 is now acting as resistance (gray zone).
Bearish Continuation Signal:
The price has broken below the critical support level around 1.0870, indicating a strong bearish momentum.
The current price action suggests a potential retest of the broken support level, now acting as resistance, before continuing the bearish move.
Potential Price Path:
The analysis suggests a retest towards the new resistance zone around 1.0870, followed by a bearish continuation towards the next support level around 1.0780.
The projected price path is indicated by the downward arrow, showing the expected move after the retest.
Market Sentiment:
The sentiment is bearish given the strong break below the support level and the formation of lower highs and lower lows.
Traders should look for confirmation of the bearish continuation with lower highs (LH) and lower lows (LL) to validate the trend.
Trading Plan:
- Look for selling opportunities on pullbacks towards the resistance zone around 1.0870.
- Consider placing stop-losses just above the resistance level to manage risk.
- Target the support level around 1.0780 for potential take-profits.
- This analysis suggests a potential bearish continuation for EUR/USD, with selling opportunities on pullbacks towards the resistance zone. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
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