The sharp rise in ADP and ISM PMI forecasts is shifting market expectations: the Fed is now less likely to cut interest rates soon. This immediately supports the USD recovery and puts pressure on major currency pairs – EURUSD included.
Looking at the H4 chart, we can see price being rejected around the 1.14480 resistance zone, right when the EMA 34 and 89 lines are starting to tighten – a sign that the bullish momentum is fading. At this point, price appears to be heading back toward the 1.13300 support zone, which has held several times before. If this level breaks, the bearish move could extend toward 1.12890.
Looking at the H4 chart, we can see price being rejected around the 1.14480 resistance zone, right when the EMA 34 and 89 lines are starting to tighten – a sign that the bullish momentum is fading. At this point, price appears to be heading back toward the 1.13300 support zone, which has held several times before. If this level breaks, the bearish move could extend toward 1.12890.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
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🔥 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.