I have identified a potential short opportunity for EUR/USD. The analysis suggests a bearish scenario as I anticipate a downward movement upon a retracement to the key level of 1.09394 on the 4-hour timeframe. The possibility of a continuation of this downtrend is substantial, with a potential target around the 1.07220 level.
It's essential to remain vigilant and monitor the price action closely as it approaches the identified resistance zone. A confirmation of bearish momentum, coupled with rejection at the mentioned level, could strengthen the validity of this trade setup.
I invite you to share your insights and opinions on this analysis. Your input and perspectives would be valuable in refining our approach and ensuring a well-rounded assessment of the market conditions.
It's essential to remain vigilant and monitor the price action closely as it approaches the identified resistance zone. A confirmation of bearish momentum, coupled with rejection at the mentioned level, could strengthen the validity of this trade setup.
I invite you to share your insights and opinions on this analysis. Your input and perspectives would be valuable in refining our approach and ensuring a well-rounded assessment of the market conditions.