Hello everyone, what’s your view on EURUSD’s trend?
On the H4 chart, EURUSD is showing signs of imbalance after forming a Diamond Top pattern – a structure that often indicates bearish reversal. Price is currently stuck within the boundaries and has yet to show convincing breakout momentum.
If the lower boundary breaks, selling pressure could intensify, opening the way toward 1.1400, a key support zone. This outlook is further supported by the firm strength of the USD, backed by rising bond yields.
On the flip side, a breakout above the upper boundary would invalidate the bearish scenario.
The short-term bias still favors the sellers. Do you think EURUSD will soon slide toward the 1.1400 zone?
On the H4 chart, EURUSD is showing signs of imbalance after forming a Diamond Top pattern – a structure that often indicates bearish reversal. Price is currently stuck within the boundaries and has yet to show convincing breakout momentum.
If the lower boundary breaks, selling pressure could intensify, opening the way toward 1.1400, a key support zone. This outlook is further supported by the firm strength of the USD, backed by rising bond yields.
On the flip side, a breakout above the upper boundary would invalidate the bearish scenario.
The short-term bias still favors the sellers. Do you think EURUSD will soon slide toward the 1.1400 zone?
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Related publications
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.