Short

EURUSD reached a 20-month Resistance. Potential for heavy sell.

The EURUSD pair has almost hit the Lower Highs trend-line that started on the July 18 2023 High and immediately got rejected. The Resistance Zone that connects the last 3 major Highs within a 20-month span, follows the same pattern, especially with the 1D RSI Lower Highs peak formation.

Right now we are on the Lower High rejection, which on the previous three peaks hit initially the Support 1 level and then at least the Higher Lows trend-line (if not lower). As a result, we expect heavy selling to start on EURUSD, targeting 1.0730 and 1.0500 in succession.

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇

TradingShot

👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)

💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot

🔥New service: next X100 crypto GEMS!

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

TradingShot

Also on: