Sell EURUSD Price Rejection

The EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent price rejection at a resistance level. This suggests a potential shift in momentum towards the downside and a higher likelihood of further declines in the coming minutes or hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 1.0925, positioned close to the rejected level. This offers an entry point near the perceived shift in momentum.

Target Levels: Initial bearish targets lie at the following levels:
1.0890: This represents a short-term support level that could see renewed selling pressure.
1.0870: This is a further extension of the downside target, based on the recent price movement.

Stop-Loss: To manage risk, place a stop-loss order above the resistance level at 1.0950. This helps limit potential losses if the price unexpectedly breaks above resistance.

Thank you

Trade active:

Stronger US Dollar: The US Dollar has continued to gain strength recently, supported by hawkish signals from the Federal Reserve and ongoing geopolitical tensions. This puts downward pressure on EUR/USD.