EUR/USD is currently moving sideways within a narrow range around 1.1700–1.1750, as traders await key economic data from both the US and the Eurozone. The chart reflects a consolidation phase, with repeated resistance tests but no clear breakout yet.
This week, the euro remains under pressure after the ECB delivered a more dovish tone than expected, reinforcing the view that interest rates in the euro area may stay unchanged for longer. Although inflation data has stabilized, the euro’s recovery momentum has stalled.
Looking ahead, EUR/USD must break above the 1.1740 resistance zone to resume its longer-term bullish trend. Otherwise, the bearish pullback scenario, as outlined in the chart, could come into play.
What’s your take — will we see a breakout, or is a correction coming first? 📉📈
Share your view in the comments!
This week, the euro remains under pressure after the ECB delivered a more dovish tone than expected, reinforcing the view that interest rates in the euro area may stay unchanged for longer. Although inflation data has stabilized, the euro’s recovery momentum has stalled.
Looking ahead, EUR/USD must break above the 1.1740 resistance zone to resume its longer-term bullish trend. Otherwise, the bearish pullback scenario, as outlined in the chart, could come into play.
What’s your take — will we see a breakout, or is a correction coming first? 📉📈
Share your view in the comments!
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✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
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✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
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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.