Long

EURUSD | False Bearish Setup - The Bulls are arriving

Updated

During Monday's American session, the EUR/USD continued its descent, reaching below 1.0800 for the first time since mid-December. Market caution favored the strength of the US dollar, negatively impacting the pair ahead of key events for the week. Despite a modest bounce from a January low at 1.0813, widespread dollar weakness prevented further declines. Daily technical analyses suggest a bearish outlook, with resistance around the 200 Simple Moving Average at 1.0845. The short-term situation is also negative, with the EUR/USD below all moving averages and bearish technical indicators. In this context, the euro is the weakest currency against the dollar at the beginning of the week, with bets on a rate cut in April despite opposition from the ECB. Peter Kazimir suggests a cut is more likely in June, citing positive signs of disinflation. ECB Vice President Luis de Guindos emphasizes inflation progress but reassures that they are not yet ready for a cut. Monday's macroeconomic calendar is sparse, but the week will see significant events, including Eurozone and Germany's GDP, the US Federal Reserve's monetary policy decision, and January Nonfarm Payrolls report. The chart shows a well-defined long position, greetings to all.

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Good reaction on the breakout of the bearish trendline

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Perfect touch and go as I predicted. Now the price is waiting the FED

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After the FED, I'm waiting for a significant reaction inside the demand zone

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Good reaction after BOE, first target hit!

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My new chart setup for EURUSD

Forex48_TradingAcademy

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