The EURUSD pair continues to trade within a well-defined descending price channel, with price action consistently respecting both upper and lower trendlines over the past several sessions. This channel structure underscores the strength of the ongoing bearish trend dominating the market.
Currently, EURUSD is showing a mild technical pullback, but the recovery remains limited. Price has yet to break above the 34 and 89 EMA, while a critical resistance zone near 1.1740 stands in the way. If a reversal candlestick pattern forms at this level — such as a bearish engulfing or pin bar — it could offer a high-probability short setup. In that scenario, sellers may aim for a retest of 1.1660 or even a drop toward the lower boundary of the channel.
However, traders should remain cautious. A clear breakout above 1.1750, followed by sustained price action outside the channel, would invalidate the bearish bias. This could trigger a deeper corrective rally and put open short positions at risk.
The downtrend remains dominant, but this is a technical turning point. Traders should wait for confirmation signals before committing to new positions.
Share your thoughts below – and remember, smart trading always starts with risk control.
Currently, EURUSD is showing a mild technical pullback, but the recovery remains limited. Price has yet to break above the 34 and 89 EMA, while a critical resistance zone near 1.1740 stands in the way. If a reversal candlestick pattern forms at this level — such as a bearish engulfing or pin bar — it could offer a high-probability short setup. In that scenario, sellers may aim for a retest of 1.1660 or even a drop toward the lower boundary of the channel.
However, traders should remain cautious. A clear breakout above 1.1750, followed by sustained price action outside the channel, would invalidate the bearish bias. This could trigger a deeper corrective rally and put open short positions at risk.
The downtrend remains dominant, but this is a technical turning point. Traders should wait for confirmation signals before committing to new positions.
Share your thoughts below – and remember, smart trading always starts with risk control.
Trade closed: target reached
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✅ Get 7–10 high-quality trading signals daily (Forex, Gold, Bitcoin)
✅ Real-time updates – precise and timely alerts
✅ Perfect for both beginners and seasoned traders
👉 Click the link to join now: t.me/+xo3AwHaKIcZhZDg9
✅ Real-time updates – precise and timely alerts
✅ Perfect for both beginners and seasoned traders
👉 Click the link to join now: t.me/+xo3AwHaKIcZhZDg9
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.