The EURUSD pair remains constrained within a Bearish Channel pattern on the 1-hour chart as trading commenced in the European session on Monday (April 7, 2025). As long as it remains within this pattern, there is a potential for the EURUSD to decline.
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On the 15-minute chart, the EURUSD seems to be forming a Head and Shoulders pattern. The Stochastic indicator is rising but has not yet entered the overbought territory. This suggests that there is still room for the EURUSD to move up. However, once it reaches the overbought zone, the EURUSD is likely to create the Right Shoulder. This pattern increases the chances of a downward movement for the EURUSD.
Technical Reference: Sell while below 1.10000
Potential Take Profit 1: 1.09200
Potential Take Profit 2: 1.09000
Potential Stop Loss 1: 1.10000
Potential Stop Loss 2: 1.10200
