Hello everyone, the EUR/USD chart currently shows a clear bearish structure. After failing to break the strong resistance at 1.17100, the market has reversed and is forming lower highs and lows. The key support level at 1.16100 is crucial to watch. If the price breaks this support, the pair may continue its strong downtrend, targeting 1.15300.
News supporting the bearish trend:
FOMC minutes: With a dovish FOMC minutes, the USD is likely to continue strengthening, putting pressure on EUR/USD.
Initial jobless claims: Negative data from jobless claims reinforces the bullish trend of USD, pushing EUR/USD lower.
Weak PMI: The weakening PMI indicators from the Eurozone increase the likelihood of EUR/USD continuing its downtrend.
Strategy:
Wait for a break below 1.16100 to enter a SELL trade, targeting 1.15300 as the next levels.
News supporting the bearish trend:
FOMC minutes: With a dovish FOMC minutes, the USD is likely to continue strengthening, putting pressure on EUR/USD.
Initial jobless claims: Negative data from jobless claims reinforces the bullish trend of USD, pushing EUR/USD lower.
Weak PMI: The weakening PMI indicators from the Eurozone increase the likelihood of EUR/USD continuing its downtrend.
Strategy:
Wait for a break below 1.16100 to enter a SELL trade, targeting 1.15300 as the next levels.
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📍 Accurate, verified technical analysis
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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.