Technical Analysis:
Current Price Movement: The EUR/USD pair has recently dipped below the 1.1200 level, indicating a bearish trend.
Resistance and Support Levels: The resistance at 1.14600 remains a significant barrier, while the pair is approaching the support target of 1.09500.
Fundamental Factors:
US Dollar Strength: The US dollar has gained strength due to positive trade developments and robust employment data.
Eurozone Economic Outlook: The Euro faces challenges amid expectations of further rate cuts by the European Central Bank, contributing to its weakness against the dollar.
Conclusion:
Given the current technical indicators and fundamental factors, the EUR/USD pair is under bearish pressure. Traders should monitor key levels, with a focus on the support at 1.09500 and resistance at 1.14600, to inform their trading strategies
Current Price Movement: The EUR/USD pair has recently dipped below the 1.1200 level, indicating a bearish trend.
Resistance and Support Levels: The resistance at 1.14600 remains a significant barrier, while the pair is approaching the support target of 1.09500.
Fundamental Factors:
US Dollar Strength: The US dollar has gained strength due to positive trade developments and robust employment data.
Eurozone Economic Outlook: The Euro faces challenges amid expectations of further rate cuts by the European Central Bank, contributing to its weakness against the dollar.
Conclusion:
Given the current technical indicators and fundamental factors, the EUR/USD pair is under bearish pressure. Traders should monitor key levels, with a focus on the support at 1.09500 and resistance at 1.14600, to inform their trading strategies
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TRADE ACTIVE Trade closed: target reached
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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.
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.