EUR/USD Set for Breakout: Resistance or Reversal?
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EUR/USD 6H Chart Analysis
Next Outlook:
The EUR/USD is currently consolidating after rebounding from a key support area. The next movement will depend on the price’s interaction with the highlighted resistance zone.
Bullish Scenario:
now will try to reach 1.10828 and If the price breaks above the resistance zone between 1.10828 and 1.11413, it will likely continue its upward trend toward the next target at 1.12514. A sustained move above this level could indicate a stronger bullish momentum.
Bearish Scenario:
Failure to break the resistance zone could result in a reversal, with the price potentially dropping back to the support area near 1.09156. A further decline could bring the price down to the demand zone around 1.06820.
Key Levels:
- Pivot Line: 1.1000
- Resistance Lines: 1.10828, 1.11413, 1.12514
- Support Lines: 1.09156, 1.06820, 1.06164
Overall Direction:
The overall direction is currently neutral with a slight bullish bias, as long as the price trades above 1.09156. The breakout above or below the current consolidation range will determine the next significant move.
previous idea :
Next Outlook:
The EUR/USD is currently consolidating after rebounding from a key support area. The next movement will depend on the price’s interaction with the highlighted resistance zone.
Bullish Scenario:
now will try to reach 1.10828 and If the price breaks above the resistance zone between 1.10828 and 1.11413, it will likely continue its upward trend toward the next target at 1.12514. A sustained move above this level could indicate a stronger bullish momentum.
Bearish Scenario:
Failure to break the resistance zone could result in a reversal, with the price potentially dropping back to the support area near 1.09156. A further decline could bring the price down to the demand zone around 1.06820.
Key Levels:
- Pivot Line: 1.1000
- Resistance Lines: 1.10828, 1.11413, 1.12514
- Support Lines: 1.09156, 1.06820, 1.06164
Overall Direction:
The overall direction is currently neutral with a slight bullish bias, as long as the price trades above 1.09156. The breakout above or below the current consolidation range will determine the next significant move.
previous idea :
Trade chiuso: obiettivo raggiunto
The price has precisely hit our target with a gain of 250 pips. Sustained stability above 1.1141 would likely support further upward movement toward 1.1251. Conversely, a reversal and stability below 1.0828 could trigger a decline toward 1.0915.
Trade attivo
EURUSD Update 23-Aug 2024
The price about reaching the next Target...
If the daily candle closes above 1.1141, it indicates a likely move toward 1.1257 next week. The expected range of movement will be between 1.1141 and 1.1257, with a possible retest down to 1.1141.
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Urgent News ⚡️:
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