Hey Traders, in the coming week we are monitoring EURUSD for a buying opportunity around the 1.16600 zone. EURUSD remains in an uptrend and is currently undergoing a correction phase, approaching a key support/resistance level at 1.16600.
Meanwhile, the US Dollar Index (DXY) continues to trade in a downtrend and is nearing resistance around the 98.000 zone. The dovish stance from the Federal Reserve, coupled with growing expectations for potential rate cuts in September, is adding consistent selling pressure on the dollar — increasing the probability for further EURUSD upside.
Trade safe,
Joe.
Meanwhile, the US Dollar Index (DXY) continues to trade in a downtrend and is nearing resistance around the 98.000 zone. The dovish stance from the Federal Reserve, coupled with growing expectations for potential rate cuts in September, is adding consistent selling pressure on the dollar — increasing the probability for further EURUSD upside.
Trade safe,
Joe.
Trade active
Beautiful trigger from the trend
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Free Telegram Group:
t.me/+MDJZTdS-Mw0xZTA0
The 1% Traders Club:
t.me/+C08gijSq2PMyZTVk
t.me/+MDJZTdS-Mw0xZTA0
The 1% Traders Club:
t.me/+C08gijSq2PMyZTVk
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.