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.
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。