- June 26, 2024
- Posted By: Paris Blanc
- Category: Market News
Key Entry Points for Short Positions in EURUSD
In our latest analysis of the EURUSD pair, the market trend shows a bearish inclination. The recent price action indicates a potential break of structure (BOS), suggesting a short-selling opportunity. Utilizing Fibonacci retracement, we identify the optimal entry zone between the 0.618 to 0.382 levels, where the price is likely to find resistance before continuing its downward movement. Additionally, the RSI indicator supports a neutral to slightly bearish outlook, implying that the asset’s performance is currently below average and not exhibiting strong momentum.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Traders looking to capitalize on this trend should consider the bearish signals highlighted in our analysis. The combination of technical indicators, including the Fibonacci retracement and RSI, suggests that the EURUSD rate is poised for further decline. Monitoring the EURUSD forecast prediction and staying updated with EURUSD news analysis will be crucial for making informed trading decisions. The overall EURUSD rate trend aligns with the bearish outlook, and traders should remain vigilant for any live market updates that could impact this forecast.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.