Euro / U.S. DollarShort
EURUSD Next possible move
EURUSD Title
"EUR/USD Intraday Analysis: Bearish Pressure Resumes | Post-NFP Decline"
Market Context
"EUR/USD faces selling pressure today, reversing gains from last week. The pair has broken below key intraday support levels, driven by a stronger USD following Friday's NFP report. The dollar gains traction as the market leans towards a more hawkish Fed outlook."
Technical Analysis
*"Today’s sell momentum is confirmed by multiple bearish signals:
Price Action: The pair broke below the 1.0520 intraday support, creating lower highs and lower lows on the H1 chart.
EMA Bearish Crossover: Price is trading below the 20 and 50 EMAs, signaling potential further downside.
RSI: Dropped below 45, indicating increasing bearish momentum.
MACD: Negative histogram bars have expanded, confirming downward pressure.
Key Levels:
Support: 1.0500 (critical), 1.0475 (next potential target).
Resistance: 1.0535 (intraday), 1.0555 (major). A move above 1.0555 would invalidate the bearish setup."*
News Context
"Upcoming: Market awaits U.S. ISM Services PMI later today, which could further support the dollar if results exceed expectations.
Previous: NFP data on Friday indicated a resilient U.S. labor market, bolstering Fed rate hike speculation."
Call to Action
"Do you expect EUR/USD to test lower support levels, or is this sell-off a temporary correction? Share your views in the comments!"
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.