The EURUSD pair is showing clear signs of weakness after forming a rounded top pattern near the 1.18100 resistance zone. Price has broken out of a short-term sideways range and may retest the FVG area near 1.17500 before continuing its downward move.
If the support at 1.17118 is breached, EURUSD could head toward the 1.16200 level – a key demand zone on the chart. The bearish momentum is being reinforced by recent news:
Yesterday: U.S. employment data exceeded expectations, strengthening the USD.
Today: The euro is under pressure due to EU recession concerns and political instability in France.
Coming up: The FOMC minutes may continue to reflect a hawkish stance, which could further weigh on EURUSD.
If the support at 1.17118 is breached, EURUSD could head toward the 1.16200 level – a key demand zone on the chart. The bearish momentum is being reinforced by recent news:
Yesterday: U.S. employment data exceeded expectations, strengthening the USD.
Today: The euro is under pressure due to EU recession concerns and political instability in France.
Coming up: The FOMC minutes may continue to reflect a hawkish stance, which could further weigh on EURUSD.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.