Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
For an extended period, the price was dictated by a descending channel, with each rally attempt failing at its upper boundary.
The downward trend culminated in a test of the crucial support level at $1.1635, where sellers were unable to secure a foothold, signaling a potential momentum shift.
This shift was confirmed when buyers took control, launching an upward impulse that decisively breached the long-standing resistance of the channel's upper trendline.
After the breakout, the price established a new local support base above the former channel, solidifying the change in market structure.
The subsequent rally carried the asset's price to the significant horizontal resistance zone around $1.1755, where the upward advance has temporarily stalled.
I expect that after a brief consolidation, bullish pressure will resume, enabling the price to break the $1.1755 barrier and continue towards the $1.1820 target.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
For an extended period, the price was dictated by a descending channel, with each rally attempt failing at its upper boundary.
The downward trend culminated in a test of the crucial support level at $1.1635, where sellers were unable to secure a foothold, signaling a potential momentum shift.
This shift was confirmed when buyers took control, launching an upward impulse that decisively breached the long-standing resistance of the channel's upper trendline.
After the breakout, the price established a new local support base above the former channel, solidifying the change in market structure.
The subsequent rally carried the asset's price to the significant horizontal resistance zone around $1.1755, where the upward advance has temporarily stalled.
I expect that after a brief consolidation, bullish pressure will resume, enabling the price to break the $1.1755 barrier and continue towards the $1.1820 target.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Trade active
Great! Price reached resistance level, and even broke it. Now I think it continue to grow.Trade closed manually
Price turned around and started to decline. For this case, I close this trade.
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🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
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.