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Message: [QUOTE="Resolve, post: 237124, member: 29339"] [B][SIZE=5]EURUSD Technical Analysis – 01st OCT, 2024 EURUSD – Support of Channel is Broken[/SIZE][/B] [img]https://i.imgur.com/hMVZDUt.png[/img] EURUSD was unable to continue its bullish momentum and after touching a high of 1.1176 the prices started to decline against the United States Dollar today in the US Trading session. The Support of channel is broken in the daily timeframe. The Bearish trend reversal: Moving Average 20 is visible in the 4-hourly timeframe. We have also detected Bearish trend reversal: adaptative moving average 100 in the 4-hourly timeframe. We have also seen Bearish price crossover with Moving Average 100 in the 4-hourly timeframe. The Horizontal support is broken in the daily timeframe. We can also see the Bearish price crossover with Moving Average 20 in the daily timeframe. The RSI indicator is back under 50 in the daily timeframe. We have also seen Parabolic SAR indicator bearish reversal in the daily timeframe. Along with the RSI indicator: bearish divergence is seen in the weekly timeframe. EURUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages. • Euro Bearish reversal seen below the 1.1176 mark. • Short-term range appears to be Bearish. • EURUSD continues to remain above the 1.1080 levels. • Average true range ATR is indicating Less market volatility. The next support is located at 1.1083 which is a 38.2% Retracement From 4 Week Low. EURUSD is now trading below its Pivot levels of 1.1101 and is moving into a Bearish channel. The price of EURUSD remains above its Classic support levels of 1.1064 and is moving towards its next target of 1.1076 which is a Price 3 Standard Deviations Support. [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

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