EUR/USD is currently exhibiting a bearish sentiment as it approaches the 15-minute and 1-hour supply area. The price has recently undergone a change of character in the 1-minute timeframe, indicating a potential selling opportunity. The key level to watch is the 1.09090 line, which, if broken, could confirm the bearish bias.
On the 15-minute and 1-hour charts, the market has been showing signs of weakness, with lower highs and lower lows forming. This suggests that selling pressure may be increasing, indicating a possible trend reversal. Additionally, the price is currently approaching a supply area on both timeframes, which could act as a resistance zone and potentially trigger further selling.
The 1-minute timeframe has also witnessed a change of character, with the price action displaying a bearish bias. This change in behavior could indicate a shift in momentum towards the downside. Traders may look for selling opportunities on pullbacks, as long as the market continues to form lower lows and lower highs, indicating a potential downtrend.
To confirm the bearish bias I will be closely monitoring the 1.09090 level. If the price breaks below this level, it could validate the sell signal and potentially open up further downside potential. However, you should also be mindful of proper risk management techniques and set appropriate stop-loss levels to protect against potential losses.
Overall, the current market conditions on EUR/USD indicate a bearish sentiment, with the price approaching key supply areas and displaying lower lows and lower highs on multiple timeframes. A potential selling opportunity could arise if the price breaks below the 1.09090 level, confirming the change of character in the 1-minute timeframe. Traders should carefully monitor the price action and use proper risk management strategies when considering any trade setups.
On the 15-minute and 1-hour charts, the market has been showing signs of weakness, with lower highs and lower lows forming. This suggests that selling pressure may be increasing, indicating a possible trend reversal. Additionally, the price is currently approaching a supply area on both timeframes, which could act as a resistance zone and potentially trigger further selling.
The 1-minute timeframe has also witnessed a change of character, with the price action displaying a bearish bias. This change in behavior could indicate a shift in momentum towards the downside. Traders may look for selling opportunities on pullbacks, as long as the market continues to form lower lows and lower highs, indicating a potential downtrend.
To confirm the bearish bias I will be closely monitoring the 1.09090 level. If the price breaks below this level, it could validate the sell signal and potentially open up further downside potential. However, you should also be mindful of proper risk management techniques and set appropriate stop-loss levels to protect against potential losses.
Overall, the current market conditions on EUR/USD indicate a bearish sentiment, with the price approaching key supply areas and displaying lower lows and lower highs on multiple timeframes. A potential selling opportunity could arise if the price breaks below the 1.09090 level, confirming the change of character in the 1-minute timeframe. Traders should carefully monitor the price action and use proper risk management strategies when considering any trade setups.
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sell position
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