• June 26, 2024
  • Trade ideas

EURUSD: Descending Channel

EURUSD, H4

EURUSDH4.png

On the H4 chart, EURUSD is navigating within a downtrend and facing a crucial 1.0690 support zone. The 50-MA crosses the 100- and 200-MA’s, potentially signaling a bearish sentiment.

  • If the price rebounds from the support zone, it will likely lead to a rise toward 1.7400
  • However, breaching below the support will indicate a decline to 1.0650 support.
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Author: Timur Yurdagyul