EURUSD: Will the bears reverse the trend?
Dear Friends!
Selling pressure continues to weigh on the US Dollar and encouraged EURUSD to move to a fresh two-week high near 1.0500 following disappointing US Retail Sales figures.
Technically, as mentioned on the 3-hour chart, although the uptrend remains supported and the parallel price channel has been broken, there are signs of a potential top forming at 1.053. Current support is around 1.047. If this level is broken, it could send EURUSD lower, potentially reaching 1.041, which would coincide with a test of the 34 and 89 EMAs.
Have a nice day and good luck!
Selling pressure continues to weigh on the US Dollar and encouraged EURUSD to move to a fresh two-week high near 1.0500 following disappointing US Retail Sales figures.
Technically, as mentioned on the 3-hour chart, although the uptrend remains supported and the parallel price channel has been broken, there are signs of a potential top forming at 1.053. Current support is around 1.047. If this level is broken, it could send EURUSD lower, potentially reaching 1.041, which would coincide with a test of the 34 and 89 EMAs.
Have a nice day and good luck!
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⭐️Join our FREE Signal Channel for instant benefits:
t.me/+paad547_JSVjNTll
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✅Expert Trading Strategies
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t.me/+paad547_JSVjNTll
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
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.