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Euro / U.S. Dollar
Short

EUR/USD Analysis: Bearish Outlook Amid Strong Support

By Charts_M7M
Updated
With Trump’s win likely strengthening the U.S. dollar, EUR/USD has reached a notable support level that has held firm over the past year. This level may lead to a short-term bounce, but continued downside is possible due to factors like holiday spending patterns, potential new sanctions on China, and renewed confidence in the new administration. I’ll be watching for a possible move down to the 1.04 level if further bearish momentum builds.
Trade closed: target reached
Take profit reached
Chart PatternsFundamental Analysis
Charts_M7M
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