EURUSD → How long will the bearish trend continue?

5 lut 2024

EURUSD tested downtrend resistance earlier, bears are keeping the price down and forming a tight stance amid a strengthening DXY .



On the high timeframe we see the current bearish trend, within which the price movement will continue until more favorable times. The target in the medium term may become the area of 1.06300 - 1.0450
On H4 we are interested in the support at 1.0780. Since this is a local risk area for sellers, a strong downward impulse may be formed if this area is broken and the price consolidates below it. But, no less important level is 1.0724 from which a rebound may follow, as it is the lower boundary of the range. But another retest of this zone may lead to a breakout and further decline.

Resistance levels: 1.0830, 1.0887
Support levels: 1.0780, 1.0724

In the long term, with a negative fundamental background and bearish trend, the price may continue its decline to the above targets.

Regards R. Linda!

5 lut 2024

Transakcja zamknięta: osiągnięto wyznaczony cel

Target 1 reached!

6 lut 2024

Uwaga

Correction amid dollar correction

7 lut 2024

Uwaga

8 lut 2024

Uwaga

False resistance breakout is something I pointed your attention to a little earlier.
A small impulse of 40 pips confirms the presence of resistance. The trend is bearish on the background of bullish news for the dollar and growth of the dollar index