Short on EUR/USD After Rejection

Hello traders! Welcome to a new EUR/USD analysis on the 1-hour timeframe. As you can see, the price has been respecting this ascending channel, but we are now seeing signs of a potential breakout to the downside. I have marked a strong resistance zone that has rejected the price, and now we are waiting for confirmations to enter a short position.

The entry price for this trade is 1.04136, with a target set around the support zone at 1.03377, while the stop loss is placed just above the resistance at 1.04674. Always remember to manage your risk properly before taking any trade.

If you found this analysis helpful, don't forget to like the idea and follow me on TradingView for more real-time updates! Share your thoughts in the comments, and let's discuss the best strategies together. See you in the next analysis!

Disclaimer:
This analysis is for informational and educational purposes only and should not be considered financial advice. Trading in the forex market involves significant risk, and you should carefully assess your financial situation and risk tolerance before making any trading decisions. Always conduct your own research and consult with a licensed financial advisor if needed. Past performance is not indicative of future results. Trade responsibly!