After several choppy sessions, EURUSD is now showing strong short-term recovery signals, having broken out of its previous descending channel. The pair is currently hovering around 1.123, continuing to defend a key support zone.
The upward momentum is being fueled by developments on both sides:
👉 From the U.S., consumer confidence continues to weaken, and growing expectations of an early Fed rate cut are weighing on the dollar.
👉 From Europe, fresh economic data from Germany and France came in better than expected this morning, helping the euro regain strength in the short term.
Combining both technical and fundamental factors, the current accumulation pattern on the H1 timeframe could act as a launchpad for a potential breakout toward 1.1227 resistance, and possibly beyond the upper trendline boundary.
🎯 Trading idea: Look for buy setups if a bullish candle confirms around 1.1220–1.1230, with stop loss placed below the EMA and the previous support zone.
The upward momentum is being fueled by developments on both sides:
👉 From the U.S., consumer confidence continues to weaken, and growing expectations of an early Fed rate cut are weighing on the dollar.
👉 From Europe, fresh economic data from Germany and France came in better than expected this morning, helping the euro regain strength in the short term.
Combining both technical and fundamental factors, the current accumulation pattern on the H1 timeframe could act as a launchpad for a potential breakout toward 1.1227 resistance, and possibly beyond the upper trendline boundary.
🎯 Trading idea: Look for buy setups if a bullish candle confirms around 1.1220–1.1230, with stop loss placed below the EMA and the previous support zone.
Trade active
Note
new idea on 1d
✅You can get 7-10 Forex, XAUUSD, Bitcoin...signal every day
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+O3-l2fUUSpU1NGRl
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+O3-l2fUUSpU1NGRl
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.
✅You can get 7-10 Forex, XAUUSD, Bitcoin...signal every day
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+O3-l2fUUSpU1NGRl
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+O3-l2fUUSpU1NGRl
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.