EUR-USD
This EUR/USD chart shows a recent decline after reaching a resistance level around 1.12137, forming a double-top pattern that suggests a trend reversal. The price has since dropped sharply and is approaching a significant "Order Blocker" zone between 1.07515 and 1.08022, where institutional buying may occur.
If the price holds in this area, a potential bounce toward the 50% retracement level near 1.1000 could happen, indicating a bullish correction. However, if the price breaks below this zone, further bearish momentum could push it toward the next support at 1.0715.
In summary, the market is currently bearish, but the reaction at the "Order Blocker" will determine whether a reversal or further decline is likely. Traders should monitor this key zone closely.
If the price holds in this area, a potential bounce toward the 50% retracement level near 1.1000 could happen, indicating a bullish correction. However, if the price breaks below this zone, further bearish momentum could push it toward the next support at 1.0715.
In summary, the market is currently bearish, but the reaction at the "Order Blocker" will determine whether a reversal or further decline is likely. Traders should monitor this key zone closely.
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