📊 Market Overview:
EUR/USD is trading around 1.1330, slightly retreating after reaching near 1.1390 earlier this week. The US dollar is strengthening due to robust consumer confidence data and expectations that the Federal Reserve will maintain higher interest rates for an extended period. Meanwhile, the euro faces pressure as investors await upcoming Eurozone inflation data.
📉 Technical Analysis:
• Key Resistance: 1.1390
• Nearest Support: 1.1255
• EMA: Price remains above the 9-day EMA, indicating the uptrend is still intact.
• RSI: Near 60, suggesting mild overbought conditions.
• MACD: Forming a bearish crossover, signaling potential short-term correction.
📌 Outlook:
EUR/USD may continue to pull back in the short term if it fails to break above the 1.1390 resistance and the US dollar maintains its strength.
💡 Suggested Trading Strategy:
Sell EUR/USD at: 1.1380 – 1.1390
🎯 Take Profit: 1.1255
❌ Stop Loss: 1.1420
Buy EUR/USD at: 1.1255
🎯 Take Profit: 1.1350
❌ Stop Loss: 1.1215
EUR/USD is trading around 1.1330, slightly retreating after reaching near 1.1390 earlier this week. The US dollar is strengthening due to robust consumer confidence data and expectations that the Federal Reserve will maintain higher interest rates for an extended period. Meanwhile, the euro faces pressure as investors await upcoming Eurozone inflation data.
📉 Technical Analysis:
• Key Resistance: 1.1390
• Nearest Support: 1.1255
• EMA: Price remains above the 9-day EMA, indicating the uptrend is still intact.
• RSI: Near 60, suggesting mild overbought conditions.
• MACD: Forming a bearish crossover, signaling potential short-term correction.
📌 Outlook:
EUR/USD may continue to pull back in the short term if it fails to break above the 1.1390 resistance and the US dollar maintains its strength.
💡 Suggested Trading Strategy:
Sell EUR/USD at: 1.1380 – 1.1390
🎯 Take Profit: 1.1255
❌ Stop Loss: 1.1420
Buy EUR/USD at: 1.1255
🎯 Take Profit: 1.1350
❌ Stop Loss: 1.1215
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📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
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.