After rebounding from the trendline support, EURUSD is now approaching the key resistance area around 1.17500 — a zone that has historically triggered multiple rejections. However, with French and German PMI figures coming in below expectations and the ECB holding rates steady without providing any fresh policy guidance, the euro lacks the momentum for a sustained move higher.
On the H4 chart, price action is showing signs of exhaustion as it tests resistance. If buyers fail to break through convincingly, a pullback toward the 1.16800 support zone — or even deeper toward 1.16400 — becomes increasingly likely.
Preferred strategy: Watch for bearish rejection patterns near 1.17500. If confirmed, this could be a favorable opportunity to initiate short positions in anticipation of a correction.
On the H4 chart, price action is showing signs of exhaustion as it tests resistance. If buyers fail to break through convincingly, a pullback toward the 1.16800 support zone — or even deeper toward 1.16400 — becomes increasingly likely.
Preferred strategy: Watch for bearish rejection patterns near 1.17500. If confirmed, this could be a favorable opportunity to initiate short positions in anticipation of a correction.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.