30.08.202412:55 Forex Analysis & Reviews: Outlook for EUR/USD on August 30

Long-term review

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Monthly chart

On the monthly time frame, there is a strong bearish trend and it is hard for the price to change it because it has been following it for quite a while. The price may rebound during the coming weeks, and the trend line may touch a strong supply area that may make the price fall from the current levels.

Points of interest (POI)

Sell from: 1.1127 (amid the momentum movement)

TP 1: 1.1050

TP 2: 1.0950 (until the bullish OB)

Stop loss: 1.1140 (Above the bearish OB)

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