Recent news shows that U.S. economic data has weakened (JOLTS and Factory Orders came in below expectations), increasing market expectations that the Fed may cut interest rates soon. This has weakened the USD, providing upward momentum for EURUSD.
On the 4H chart, the pair is maintaining its bullish structure with trendline support and the EMA 34–89 cluster around 1.1657 – 1.1662. The nearest support is at 1.1640, and if it holds, the price could rebound higher.
Short-term scenario: EURUSD is expected to move toward the resistance zone at 1.1740. The bullish outlook would only be invalidated if the price breaks decisively below 1.1640.
On the 4H chart, the pair is maintaining its bullish structure with trendline support and the EMA 34–89 cluster around 1.1657 – 1.1662. The nearest support is at 1.1640, and if it holds, the price could rebound higher.
Short-term scenario: EURUSD is expected to move toward the resistance zone at 1.1740. The bullish outlook would only be invalidated if the price breaks decisively below 1.1640.
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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.