EURUSD has just bounced nicely off the 1.13400 support zone. Price is now climbing back toward the previous high around 1.14500 – which looks promising, but also comes with some risk. This is a level that previously triggered a strong reversal, so if price fails to break through again, a pullback toward the lower EMA region is quite possible.
On the chart, I can see price approaching the upper boundary of the ascending channel, while buying momentum seems to be fading. If we see a reversal candlestick pattern or long upper wicks forming in this area, it might be an early sign of a short-term drop.
What about the news? The latest JOLTS report shows job openings in the US are slowing down, raising concerns about the labor market. At the same time, US–China trade tensions are flaring up again, and President Trump's unclear remarks on tariffs are making investors more cautious with the USD.
On the chart, I can see price approaching the upper boundary of the ascending channel, while buying momentum seems to be fading. If we see a reversal candlestick pattern or long upper wicks forming in this area, it might be an early sign of a short-term drop.
What about the news? The latest JOLTS report shows job openings in the US are slowing down, raising concerns about the labor market. At the same time, US–China trade tensions are flaring up again, and President Trump's unclear remarks on tariffs are making investors more cautious with the USD.
Trade active
Trade closed: target reached
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 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.