EURUSD | Faces Continued Downside Risk; Reversal Only Confirmed Above 1.1747
The price initiated a bearish trend from the resistance level at 1.1747 and continues to decline. As long as it remains below the pivot level at 1.1685, further downside pressure is expected, with potential targets at 1.1632 and 1.1559. A confirmed break below this zone would reinforce the more bearish momentum.
However, if the price reverses and moves back above the pivot line, it may first reach 1.1747 before resuming the downward trend again.
The bullish trend confirmation will start above 1.1747.
Key Levels:
• Pivot line: 1.1685
• Resistance: 1.1747, 1.1894.
• Support: 1.1632, 1.15993, 1.1559.
The price initiated a bearish trend from the resistance level at 1.1747 and continues to decline. As long as it remains below the pivot level at 1.1685, further downside pressure is expected, with potential targets at 1.1632 and 1.1559. A confirmed break below this zone would reinforce the more bearish momentum.
However, if the price reverses and moves back above the pivot line, it may first reach 1.1747 before resuming the downward trend again.
The bullish trend confirmation will start above 1.1747.
Key Levels:
• Pivot line: 1.1685
• Resistance: 1.1747, 1.1894.
• Support: 1.1632, 1.15993, 1.1559.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Related publications
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Related publications
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.