EURUSD is trading within a clearly defined descending channel. After a slight rebound from the 1.14800 support zone, the price is now retesting the resistance area around 1.16000 – a zone filled with multiple previous Fair Value Gaps (FVGs). If the price fails to break above this level, the bearish trend is likely to continue with a potential move down toward 1.14000.
Latest news:
Weaker-than-expected US job data initially pressured the USD, but growing expectations that the Fed will maintain its tightening stance are helping the dollar recover – putting downward pressure on the euro.
Summary:
If EURUSD fails to break above 1.16000, a continuation of the downtrend toward 1.14000 is likely in the coming days.
Latest news:
Weaker-than-expected US job data initially pressured the USD, but growing expectations that the Fed will maintain its tightening stance are helping the dollar recover – putting downward pressure on the euro.
Summary:
If EURUSD fails to break above 1.16000, a continuation of the downtrend toward 1.14000 is likely in the coming days.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 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.