EUR/USD 15-Minute Chart Analysis
Market Overview:
Current Price: 1.09154
Recent High: 1.09283 (Price rejected from this level)
Volume: 2.91K (Moderate trading activity)
Key Levels:
Resistance: 1.09283 (Strong rejection zone)
Support Levels:
1.09000 (Psychological level)
1.08877 (Major support & target area)
Trade Setup:
Bias: Bearish (Potential reversal after strong upward move)
Entry: Below 1.09100 after confirmation
Take Profit Levels:
TP1: 1.09000
TP2: 1.08900
TP3: 1.08877
Trade Confirmation:
A break and retest of 1.09100 as resistance will confirm bearish momentum.
If price fails to break below 1.09100, bulls might regain control.
Risk Management:
Stop Loss: Above 1.09283 (To protect against a breakout)
Risk-to-Reward: Favorable, as price is showing early signs of reversal.
Conclusion:
Bearish rejection at 1.09283 suggests a possible short trade opportunity.
Wait for price action confirmation below 1.09100 before entering.
Watch volume and momentum for further confirmation of direction.