EURUSD: Short term analysis for 07/11/2024

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This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.

Time Frame: 1-hour

The 1-hour EURUSD chart exhibits bearish trend, with the volume decreasing and the price moving below 200 SMA. 45 min chart exhibits bearish a divergence indicating a potential reversal.

Key Levels:

• Order Block (Lower Target): 1.064-1.053
  
• Resistance: 1.081-1.084.00
  
• Immediate Support: 1.068.00
  

Trading Bias:
It may test upper resistance at 1.084 and get rejected. A breach of lower trend channel may trigger a corrective decline to 105.00 and potentially reach the Lower Target (Order Block) at 1.064-1.058



https://www.tradingview.com/x/Kg5YXDjf/