EUR/USD: Bearish Opportunities as Resistance Holds
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EUR/USD remains under significant bearish pressure, currently trading around 1.0478. The pair's recovery attempts are capped by the key resistance zone at 1.0498–1.0521, providing a potential entry point for short positions.
The current structure favors a continuation of the downtrend. A rejection from the 1.0498–1.0521 zone could signal a move lower, targeting the immediate support at 1.0400. A decisive break below this level would likely accelerate the bearish momentum, pushing the pair toward the next support at 1.0300.
Traders focusing on short positions should consider entries near the resistance zone, with stops placed above 1.0521 to manage risk. Targets could range from 1.0400 in the short term to 1.0300 if selling pressure intensifies.
With the broader trend still bearish, EUR/USD offers a favorable setup for sellers, particularly if resistance levels continue to hold firm.
The current structure favors a continuation of the downtrend. A rejection from the 1.0498–1.0521 zone could signal a move lower, targeting the immediate support at 1.0400. A decisive break below this level would likely accelerate the bearish momentum, pushing the pair toward the next support at 1.0300.
Traders focusing on short positions should consider entries near the resistance zone, with stops placed above 1.0521 to manage risk. Targets could range from 1.0400 in the short term to 1.0300 if selling pressure intensifies.
With the broader trend still bearish, EUR/USD offers a favorable setup for sellers, particularly if resistance levels continue to hold firm.
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