💡 Ideas For #EURUSD 🇪🇺🇺🇸
📈 Bearish distribution to 1.1400
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EURUSD continues its downward trend. The market structure is bearish (locally), and a breakdown of the nearest support level could intensify the sell-off, leading to new lows
The dollar is rising, and the currency pair is changing its medium-term direction after breaking out of consolidation. The structure is weak, and the decline may continue to 1.14.
The focus is on the current consolidation, which is forming against the backdrop of a downtrend. Consolidation below 1.1588 and a close below 1.1557 will confirm the strength of the sellers and, in turn, may trigger a decline to the liquidity zone of 1.146 - 1.1400
Resistance levels: 1.1588, 1.1630
Support levels: 1.1557, 1.1461
On D1, the market confirmed the trend reversal, with a bearish distribution forming locally. The liquidity zone that may be of interest to the market is below 1.140, so a medium-term move in this direction can be considered if the price closes below 1.1557
📈 Bearish distribution to 1.1400
———————————————
EURUSD continues its downward trend. The market structure is bearish (locally), and a breakdown of the nearest support level could intensify the sell-off, leading to new lows
The dollar is rising, and the currency pair is changing its medium-term direction after breaking out of consolidation. The structure is weak, and the decline may continue to 1.14.
The focus is on the current consolidation, which is forming against the backdrop of a downtrend. Consolidation below 1.1588 and a close below 1.1557 will confirm the strength of the sellers and, in turn, may trigger a decline to the liquidity zone of 1.146 - 1.1400
Resistance levels: 1.1588, 1.1630
Support levels: 1.1557, 1.1461
On D1, the market confirmed the trend reversal, with a bearish distribution forming locally. The liquidity zone that may be of interest to the market is below 1.140, so a medium-term move in this direction can be considered if the price closes below 1.1557