SMC Trading point update
analysis of the EUR/USD currency pair on a 1-hour timeframe, and it presents a potential bearish setup. Here's a breakdown of the idea:
Key Elements:
Resistance Zone (around 1.14182):
The price is currently approaching a marked resistance area. The analysis suggests this could be a turning point where price may reverse.
Projected Movement (Black Arrows):
The chart predicts a double top formation or a rejection from the resistance level, followed by a strong move downward.
Target Point:
The drop is expected to reach the key support zone around 1.10942, aligning with a previous structure and a potential liquidity zone.
EMA 200 (around 1.10389):
Price remains well above the 200 EMA, suggesting the trend is still bullish overall, but the setup targets a potential correction or short-term reversal.
RSI Indicator (~60):
RSI is above 60 but not overbought yet. This supports the idea that there's room for one more push up into resistance before a drop.
Mr SMC Trading point
Summary of the Idea:
1. Watch for price reaction around 1.14182.
2. If there's a clear rejection or double top, a short position may be considered.
3. Target area is around 1.10942.
4. The setup assumes a corrective move in a broader bullish trend.
plase support boost 🚀 analysis follow)
analysis of the EUR/USD currency pair on a 1-hour timeframe, and it presents a potential bearish setup. Here's a breakdown of the idea:
Key Elements:
Resistance Zone (around 1.14182):
The price is currently approaching a marked resistance area. The analysis suggests this could be a turning point where price may reverse.
Projected Movement (Black Arrows):
The chart predicts a double top formation or a rejection from the resistance level, followed by a strong move downward.
Target Point:
The drop is expected to reach the key support zone around 1.10942, aligning with a previous structure and a potential liquidity zone.
EMA 200 (around 1.10389):
Price remains well above the 200 EMA, suggesting the trend is still bullish overall, but the setup targets a potential correction or short-term reversal.
RSI Indicator (~60):
RSI is above 60 but not overbought yet. This supports the idea that there's room for one more push up into resistance before a drop.
Mr SMC Trading point
Summary of the Idea:
1. Watch for price reaction around 1.14182.
2. If there's a clear rejection or double top, a short position may be considered.
3. Target area is around 1.10942.
4. The setup assumes a corrective move in a broader bullish trend.
plase support boost 🚀 analysis follow)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.