On the higher time frame, the EUR/USD pair is exhibiting a bearish sentiment. Additionally, price is currently positioned above the 0.5 level, which is seen as a potential resistance area.
Trade Plan:
considering a short position, aiming to enter from the 4-hour orderblock/supply zone. This zone is identified as a significant area of previous selling activity and could act as a strong resistance point.
Rationale:
The trade decision is supported by the prevailing bearish trend on higher time frames and the potential resistance offered by the 0.5 level. This suggests a favorable setup for a short trade.
Trade Plan:
considering a short position, aiming to enter from the 4-hour orderblock/supply zone. This zone is identified as a significant area of previous selling activity and could act as a strong resistance point.
Rationale:
The trade decision is supported by the prevailing bearish trend on higher time frames and the potential resistance offered by the 0.5 level. This suggests a favorable setup for a short trade.