EUR/USD Analysis: Potential Downside Correction After False Breakout
EUR/USD currently showing signs of a false breakout from a strong resistance level. Although the broader market condition remains bullish, the recent price action suggests that the breakout may not sustain. This could trigger a downside correction.
The U.S. Dollar (USD) is approaching a key support level, which might provide some strength to the dollar and put downward pressure on EUR/USD.
Resistance zone 1.14000
Support Level 1.13500 / 1.13000
you may find more detail in the chart Ps Support with like and comments for more analysis.
EUR/USD currently showing signs of a false breakout from a strong resistance level. Although the broader market condition remains bullish, the recent price action suggests that the breakout may not sustain. This could trigger a downside correction.
The U.S. Dollar (USD) is approaching a key support level, which might provide some strength to the dollar and put downward pressure on EUR/USD.
Resistance zone 1.14000
Support Level 1.13500 / 1.13000
you may find more detail in the chart Ps Support with like and comments for more analysis.
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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.