The EUR/USD has experienced a corrective pullback in a range-bound manner, touching the 1.14 level during the European session, approaching the Bollinger Band Midline support at 1.129. Earlier, the exchange rate retreated after encountering resistance near the 1.1450 key resistance level. Influenced by Euro-U.S. economic data divergences, the broader European market weakened, exerting downward pressure on the euro. Ahead of this week's ECB monetary policy meeting, the pair is likely to remain range-bound between the 1.1350 support and 1.1500 resistance levels.
If the ECB signals further monetary easing, the exchange rate may decline to test the 1.1350 support zone, with a potential extension of the downward move targeting the Bollinger Band Midline at 1.1292. Conversely, if the market deems the rate-cut expectations to be fully priced in and the ECB delivers a neutral policy stance, this could prompt the EUR/USD to retest the 1.1500 resistance level.
Humans need to breathe, and perfect trading is like breathing—maintaining flexibility without needing to trade every market swing. The secret to profitable trading lies in implementing simple rules: repeating simple tasks consistently and enforcing them strictly over the long term.
Trading Strategy:
buy@1.13500-1.13600
TP:1.13800-1.13900
If the ECB signals further monetary easing, the exchange rate may decline to test the 1.1350 support zone, with a potential extension of the downward move targeting the Bollinger Band Midline at 1.1292. Conversely, if the market deems the rate-cut expectations to be fully priced in and the ECB delivers a neutral policy stance, this could prompt the EUR/USD to retest the 1.1500 resistance level.
Humans need to breathe, and perfect trading is like breathing—maintaining flexibility without needing to trade every market swing. The secret to profitable trading lies in implementing simple rules: repeating simple tasks consistently and enforcing them strictly over the long term.
Trading Strategy:
buy@1.13500-1.13600
TP:1.13800-1.13900
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.
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.