Recovery Trap or Breakout Opportunity?
On the EUR/USD 4-hour chart, the bearish bias remains dominant. The pair is attempting to recover from the recent low at 1.0540, however, the important resistance zone around the 34-EMA (1.0600) is holding back the upside momentum.
If EUR/USD fails to overcome the resistance zone of 1.0600 - 1.0620 in the coming sessions, selling pressure will return strongly, pushing the price towards the support zone of 1.0550 and even 1.0500.
On the contrary, a clear breakout above 1.0620 could open the door to a test of the 1.0650 zone, however, the upside outlook remains challenging amid the long-term downtrend.
Trading Strategy:
Short: When price fails to break above 1.0600, place a sell order with target at 1.0550 and further at 1.0500.
Long: Consider buying if price breaks above 1.0620 with high volume, target at 1.0650.
If EUR/USD fails to overcome the resistance zone of 1.0600 - 1.0620 in the coming sessions, selling pressure will return strongly, pushing the price towards the support zone of 1.0550 and even 1.0500.
On the contrary, a clear breakout above 1.0620 could open the door to a test of the 1.0650 zone, however, the upside outlook remains challenging amid the long-term downtrend.
Trading Strategy:
Short: When price fails to break above 1.0600, place a sell order with target at 1.0550 and further at 1.0500.
Long: Consider buying if price breaks above 1.0620 with high volume, target at 1.0650.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.