📈 EURUSD Weekly Technical Analysis – Major Downtrend Line in Focus
As seen on the chart, EURUSD is currently approaching a long-term descending trendline on the weekly timeframe. This trendline has historically acted as a strong supply zone, so it’s crucial to have it drawn on your chart.
🔸 If price manages to break above the resistance at 1.17545, we could see a bullish continuation toward the next targets at 1.17900, 1.18545, and potentially 1.19000.
🔻 However, if price gets rejected around the resistance zone (1.17500–1.17800), key supports to watch are 1.16960, 1.16500, and the major support at 1.14900.
⏳ A move toward the downtrend line is highly likely, but it may take time. Stay patient and monitor these key zones closely.
💬 Follow for more real-time analysis and updates!
As seen on the chart, EURUSD is currently approaching a long-term descending trendline on the weekly timeframe. This trendline has historically acted as a strong supply zone, so it’s crucial to have it drawn on your chart.
🔸 If price manages to break above the resistance at 1.17545, we could see a bullish continuation toward the next targets at 1.17900, 1.18545, and potentially 1.19000.
🔻 However, if price gets rejected around the resistance zone (1.17500–1.17800), key supports to watch are 1.16960, 1.16500, and the major support at 1.14900.
⏳ A move toward the downtrend line is highly likely, but it may take time. Stay patient and monitor these key zones closely.
💬 Follow for more real-time analysis and updates!
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.
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.