#EURUSD 4H

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EURUSD (4H Timeframe) Analysis

Pattern Identified:
Trendline Resistance: Price is respecting a descending trendline, indicating selling pressure and a bearish outlook in the short term.

Forecast:
Sell Now: The price is currently near the trendline resistance, providing an opportunity for a short position as the trend remains bearish.
Buy Opportunity: If the price drops and touches the identified support level, a potential buying opportunity may arise, expecting a bounce from support.

Key Levels:
Sell Entry: Near trendline resistance.
Stop Loss (Sell): Above the trendline resistance to limit risk.
Take Profit (Sell): At the next support level.
Buy Entry: At the support zone, once a bullish confirmation is observed.
Stop Loss (Buy): Below the support level in case of a breakout.
Take Profit (Buy): Towards the trendline resistance or next resistance level.

Market Sentiment:*
Short-Term Bearish: Dominated by sellers under trendline resistance.
Reversal Potential: Watch for support zone reactions to switch to a buy setup.