EURUSD Technical Analysis & Trade Idea

The EURUSD exhibits a bearish bias on higher timeframes. The weekly chart reveals a clear break of market structure to the downside followed by a retracement. Drilling down to the daily timeframe, the retracement has taken out previous buy stops, further supporting a short bias. A short entry at the current level appears viable, with a stop-loss placed above the recent high and targeting previous lows. This setup presents an intraday or swing trade opportunity.

Important Disclaimer: This analysis offers a technical viewpoint and does not constitute direct financial advice. Before initiating any trades, conduct your own comprehensive research and apply appropriate risk management strategies.