Is a Trend Reversal Coming?

27 Eki

EURUSD
Multi-Timeframe Analysis
Current Price: 1.07962

Potential for a Bullish Reversal:
EUR/USD is showing strong signs of a possible bullish reversal across multiple timeframes, marked by key technical indicators:

• Breakout of Descending Channel Upper Trendline
• Weekly Major Support Zone
• Potential Double Bottom Formation
• Emerging Bullish Divergence

Descending Channel Breakout:
The price has broken above the descending channel’s upper trendline (highlighted in the red circle on the chart), turning this line into a weaker resistance zone.

Weekly Major Support Zone:
We anticipate that price may retest the major weekly support level at 1.07421. This zone could serve as a solid foundation for a double bottom formation, combined with a bullish divergence. If this occurs, it could present an optimal entry point for buyers.

Top of Trading Range:
Should price rally, the next significant resistance lies at the top of the trading range, around 1.08635. Given the strength of this resistance, we might see a pullback at this level before further movement upward.

Price Target:
Based on technical indicators and chart patterns, the final target stands around the psychological level of 1.10000.

Key Levels to Watch:
• Support: 1.07421
• Resistance: 1.08635
• Target: 1.10000

Stay tuned and happy trading!

31 Eki

İşlem aktif

Resistance: 1.08635 Reached

4 Kas

Not

We can observe a gap in the price, suggesting a potential pullback to fill it. Secure your profits!

6 Kas

İşlem kapandı: hedefe ulaştı

Support: 1.07421 Reached