EURUSD ANALYSIS IS READY TO DOWN MOVE

This is a technical analysis of the EUR/USD currency pair on a 1-hour timeframe. The analysis suggests a potential short (sell) trade setup with a structured risk-reward strategy. Here’s a breakdown of the analysis:

1. Entry Zone: The price is currently approaching a key resistance level (around 1.04325-1.04348), where selling pressure is expected. A reversal from this zone is anticipated.


2. Stop Loss: Positioned above the resistance level at around 1.05030-1.05038, indicating a point where the trade would be invalidated if the price moves against the setup.


3. Target Levels: The analysis identifies two major support levels (around 1.03000 and 1.02016) as potential take-profit zones. The price is expected to follow a downward trajectory with pullbacks along the way.


4. Price Action and Confirmation:

Red arrows highlight previous sell points and resistance zones.

Blue arrows indicate key bounce points from support.

The yellow channel suggests a temporary bullish retracement before the expected drop.



5. Expected Price Movement:

A short position is anticipated after the price hits resistance.

A drop towards the first support level (1.03000) is expected.

A further decline to the final target at 1.02016 is projected.




This setup is based on market structure, resistance zones, and price action behavior, aiming for a high-probability short trade.