EURUSD / UNDER BEARISH PRESSURE - 4H
Updated
EURUSD / 4H TIME FRAME
HELLO TRADERS
The overall trend remains downward as long as trading stays below the turning level of 1.108 .
The current prices are trading below the turning level at 1.108, suggesting a downward trend. As long as prices remain below this threshold, it is reasonable to expect a continuation of the decline towards 1.101 and 1.094. This is because the inability to break above a key resistance level typically indicates a lack of buying momentum, which often leads to further declines.
However, if the turning level at 1.108 is broken and prices stabilize above it, this would signal renewed buying interest and strength in the market. In such a case, the momentum could shift upwards, potentially driving prices to the next resistance levels at 1.113 and then 1.119. This scenario reflects the market's ability to overcome previous resistance, paving the way for a possible upward trend.
KEY LEVELS :
HELLO TRADERS
The overall trend remains downward as long as trading stays below the turning level of 1.108 .
The current prices are trading below the turning level at 1.108, suggesting a downward trend. As long as prices remain below this threshold, it is reasonable to expect a continuation of the decline towards 1.101 and 1.094. This is because the inability to break above a key resistance level typically indicates a lack of buying momentum, which often leads to further declines.
However, if the turning level at 1.108 is broken and prices stabilize above it, this would signal renewed buying interest and strength in the market. In such a case, the momentum could shift upwards, potentially driving prices to the next resistance levels at 1.113 and then 1.119. This scenario reflects the market's ability to overcome previous resistance, paving the way for a possible upward trend.
KEY LEVELS :
- TURNING LEVEL : 1.108 .
- RESISTANCE LEVELS : 1.113 , 1.119 .
- SUPPORT LEVELS : 1.101 , 1.094 .
Trade active
price rising reach + 40 pip profit , currently prices trading around turning level , stabilizing below it by closing 4h candle it suggest to decline , however , by closing 4h candle above it rising towards to reach resistance level .
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