EUR/USD SEll setup
1-Hour Chart Analysis
The 1-hour chart is consolidating within a tight range after the recent sell-off. A breakout from this range could signal the next major move for EUR/USD. The bearish trend is still in play, but a short-term retracement to test the upper range boundary is possible.
Key Observations:
Price is consolidating in a tight range between 1.09350 and 1.09548.
There is potential for a breakout either to the upside (corrective move) or to the downside (continuation of the bearish trend).
The next significant target for sellers could be around 1.08994 (marked as TP1 on the chart).
Trade Opportunity:
Traders can consider shorting the pair if price breaks below the current consolidation range, targeting 1.08994 for a take-profit level. Alternatively, a break above 1.09548 could lead to a quick corrective move, allowing for a short-term long trade.
The 1-hour chart is consolidating within a tight range after the recent sell-off. A breakout from this range could signal the next major move for EUR/USD. The bearish trend is still in play, but a short-term retracement to test the upper range boundary is possible.
Key Observations:
Price is consolidating in a tight range between 1.09350 and 1.09548.
There is potential for a breakout either to the upside (corrective move) or to the downside (continuation of the bearish trend).
The next significant target for sellers could be around 1.08994 (marked as TP1 on the chart).
Trade Opportunity:
Traders can consider shorting the pair if price breaks below the current consolidation range, targeting 1.08994 for a take-profit level. Alternatively, a break above 1.09548 could lead to a quick corrective move, allowing for a short-term long trade.
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