EURUSD Next possible move

Dec 3, 2024

EURUSD

Here’s a detailed description for today’s bearish view in EUR/USD:

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### **Title**
*"EUR/USD Intraday Analysis: Sell Bias Prevails | Post-NFP Weakness"*

#### **Market Context**
*"EUR/USD remains under selling pressure, extending its decline as the U.S. dollar strengthens across the board. Friday’s robust NFP data has fueled expectations of a hawkish Federal Reserve stance, putting downward pressure on the pair."*

#### **Technical Analysis**
*"Today’s sell bias is supported by bearish signals:
- **Trend Structure**: Lower highs and lower lows confirm the downtrend.
- **EMA Dynamics**: Price remains firmly below the 20 and 50 EMAs, indicating sustained bearish momentum.
- **RSI**: Falling below 40, highlighting increased selling pressure.
- **MACD**: Negative histogram bars are widening, showing growing bearish momentum.

Key Levels:
- **Support**: 1.0500 (psychological level), 1.0470 (next target).
- **Resistance**: 1.0530 (intraday), 1.0555 (key level). A move above 1.0555 would shift the sentiment."*

#### **News Context**
*"Upcoming: U.S. ISM Services PMI and Eurozone Sentix Investor Confidence later today could provide fresh catalysts.
Previous: Friday’s NFP report showed strong job growth, reinforcing Fed rate hike expectations and supporting the dollar."*

#### **Call to Action**
*"Will EUR/USD continue its descent, or is a reversal on the horizon? Share your thoughts and trade setups below!"*

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Let me know if there are any additional details or adjustments you’d like!