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Rejection at Range Resistance: EURUSD’s Downside Potential
Hey Traders,
It appears thatEURUSD has reached the top resistance of a range it established towards the end of 2022. With the price starting to reject off these levels, I anticipate further continuation to the downside.
Current Market Conditions:
Range Resistance: The price has reached the upper boundary of a range that has been in place since late 2022.
Rejection Signs: Early signs of rejection at this resistance level suggest potential downward movement.
Targets:
TP1: 1.08600
TP2: 1.07400
TP3: 1.06850
Risk Management:
Stop-Loss: Set stop-loss at 1.10225 to manage risk and protect against any unexpected upward moves.
Conclusion:
EURUSD’s rejection at the range’s resistance signals a possible continuation to the downside. Keep an eye on price action around these key levels for further confirmation and trade adjustments.
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
Trading Insight: "When the market speaks, listen closely—there’s wisdom in every move."
It appears that
EURUSD has reached the top resistance of a range it established towards the end of 2022. With the price starting to reject off these levels, I anticipate further continuation to the downside.Current Market Conditions:
Range Resistance: The price has reached the upper boundary of a range that has been in place since late 2022.
Rejection Signs: Early signs of rejection at this resistance level suggest potential downward movement.
Targets:
TP1: 1.08600
TP2: 1.07400
TP3: 1.06850
Risk Management:
Stop-Loss: Set stop-loss at 1.10225 to manage risk and protect against any unexpected upward moves.
Conclusion:
EURUSD’s rejection at the range’s resistance signals a possible continuation to the downside. Keep an eye on price action around these key levels for further confirmation and trade adjustments.
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
Trading Insight: "When the market speaks, listen closely—there’s wisdom in every move."
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