{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurusd-is-approaching-a-downtrend-as-it-rebounds-from-a-key-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurusd-is-approaching-a-downtrend-as-it-rebounds-from-a-key-level\/","headline":"EURUSD Is Approaching A Downtrend As It Rebounds From a Key level","name":"EURUSD Is Approaching A Downtrend As It Rebounds From a Key level","description":"EURUSD Analysis – Price is approaching a downtrend as it rebounds from 1.19090 EURUSD is approaching a downtrend as the price is assumed to make a rebound at the 1.19090 key level. This level, however, is seen to have been retested twice. The downtrend phase started when the price first breaks through 1.9900 and then […]","datePublished":"2021-09-07","dateModified":"2021-09-07","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/09\/EURUSD-1Day.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/09\/EURUSD-1Day.png","height":598,"width":1194},"url":"https:\/\/forexschoolonline.com\/eurusd-is-approaching-a-downtrend-as-it-rebounds-from-a-key-level\/","about":["Article","Article-com","charts","EUR\/USD","Featured Articles","FX Technical Analysis","Price Action Charts in Focus","Support & Resistance","Trade Idea","Trade Setups"],"wordCount":336,"keywords":["Daily Chart","EUR\/USD","Market Anticipation","Price Action","Technical Analysis"],"articleBody":"EURUSD Analysis – Price is approaching a downtrend as it rebounds from 1.19090EURUSD is approaching a downtrend as the price is assumed to make a rebound at the 1.19090 key level. This level, however, is seen to have been retested twice. The downtrend phase started when the price first breaks through 1.9900 and then retested. The market is then seen to go lower, breaking below 1.19090 before making several rebounds at this level.EURUSD Significant ZonesResistance Levels: 2.22520, 1.19090Support Levels: 1.16600, 1.99000The market, however, making a rebound at this significant level, created a lower high. This high then becomes a significant zone as the price seems to retest it. The price then went down to the 1.16600 support key level before a pullback occurred. EURUSD is then assumed to be approaching the 1.19090 significant key level as a downtrend is assumed to hold.On the 1day chart, the Stochastic Oscillator indicator crosses above the overbought region. This indicates that the market’s direction will change. The bears, on the other hand, will soon seize control of the market. As sellers continue to put pressure on the downtrend market, the price may land above 1.16600. The RSI (Relative Strength Index) indicates that the signal line is near the overbought region. This also implies that the market is in a downtrend.Market ExpectationsOn the 4-hour chart, there seems to be a rejection at the 1.19090 significant key level. This shows that the bullish momentum is over and the bears are now in control. Price is seen as making higher highs and lows. The stochastic Oscillator is seen going down to the 50.00 level.The RSI is also the overbought region as the market is set to start approaching a downtrend. EURUSD is, however, set to assume a downtrend phase as more rejections are seen at the 1.19090 significant key level. The price may fall back to 1.16600.Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}