EURUSD has just reached the 1.13860 resistance zone – a confluence with the previous peak and former supply area. A weak rebound and a rounding top pattern are gradually forming, indicating weakening buying momentum. The 34 and 89 EMAs on the H4 chart add further pressure from a technical perspective.
If the price continues to be rejected at 1.13860, it may drop toward 1.12670 – which aligns with the ascending trendline support. A break below this level would confirm a clearer bearish trend.
The upcoming Core PCE data is forecasted to rise – indicating inflation remains elevated. This raises the likelihood that the Fed will maintain high interest rates for longer, supporting the USD and weighing on EURUSD.
If the price continues to be rejected at 1.13860, it may drop toward 1.12670 – which aligns with the ascending trendline support. A break below this level would confirm a clearer bearish trend.
The upcoming Core PCE data is forecasted to rise – indicating inflation remains elevated. This raises the likelihood that the Fed will maintain high interest rates for longer, supporting the USD and weighing on EURUSD.
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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.