Peter Smith
A sharp-eyed trader on X just spotted something interesting on EUR/USD that could spell trouble for the bulls. The pair is setting up for a potential drop after bumping into key resistance around 1.1480. We're talking about a classic fake-out scenario where price might tease the bulls before pulling the rug out from under them.
EUR/USD Hits the Wall at 1.1480
Right now, EUR/USD is trading around 1.1449 and getting rejected hard from that 1.1480 supply zone. The setup looks pretty textbook – we've got clear resistance overhead and the price action is screaming "trap" for anyone thinking this rally's got legs.
The trader's calling for a potential fake breakout above recent highs, followed by a nasty reversal back down toward 1.1400-1.1385. That's where the real support is sitting, and if we're being honest, that's where a lot of stop losses are probably hiding too.
Bears Could Take Charge Soon
Here's the thing – if EUR/USD loses that 1.1445 level, we could see a pretty swift move down to 1.1410 and maybe even 1.1385. It's one of those setups where the bulls get suckered in right before the bears show up to the party.
Of course, this is all speculation until we actually see the breakdown happen. But the technical picture is lining up nicely for the bears, especially if this resistance level holds firm. Sometimes the best trades are the ones where you wait for the market to show its hand first.
Peter Smith
