FX.co ★ EUR/USD

Good evening to all Forex market speculators. Wishing everyone successful trading. Trading pair - EUR/USD Daily timeframe. The price is currently moving within a flat channel with levels at 1.09489 - 1.07962. Although the price is starting to exert downward pressure, there is still uncertainty as it is not moving decisively downwards. It is forming dojis and such, creating an unclear situation. Therefore, we can consider both short continuation and long positions. There is a good opportunity for a short trade, but the possibility of a long trade remains as the price is hovering around the level of 1.07962 without breaking below it.

H1 timeframe. As we can see, the price is falling, but not rapidly enough, which could indicate a potential reversal to the upside. Additionally, there is a chance for a long bounce, similar to what happened in the past. I also acknowledge that the price is heavily overbought, leaving room for a short trade as well. Therefore, unexpected events can always occur that are difficult to account for in trading, and the price might turn downwards, especially considering the swift bullish movement with paranormal candles earlier. The interest in a short movement is significant because there is a possibility of a good profit if the price indeed starts to decline in that direction.