EURUSD has rejected the 1.17500 resistance zone and is now forming lower highs on the H4 chart, signaling weakening bullish momentum within the ascending channel.
Stronger-than-expected Core PCE data from the US reinforces the Fed’s cautious stance, keeping the USD strong. Meanwhile, political rumors about Trump potentially replacing Powell have triggered market volatility but still support the dollar in the short term.
As long as price fails to break above 1.17500, EURUSD is likely to decline toward the 1.15900 zone. A bullish scenario would only be validated if price closes above 1.1760.
Stronger-than-expected Core PCE data from the US reinforces the Fed’s cautious stance, keeping the USD strong. Meanwhile, political rumors about Trump potentially replacing Powell have triggered market volatility but still support the dollar in the short term.
As long as price fails to break above 1.17500, EURUSD is likely to decline toward the 1.15900 zone. A bullish scenario would only be validated if price closes above 1.1760.
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⚡ 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.