Hello traders, Brian here!
The breakout from the descending channel has triggered an impressive bullish move. At the time of writing, the market is trading just below the key resistance at 1.17280. The uptrend remains strong, as prices consolidate near highs with steady action on the 2-hour timeframe.
On the macro side, the growing uncertainty surrounding the Federal Reserve’s interest rate cut path and the ongoing trade negotiations between the US and the EU have put the US Dollar on the defensive, providing support to the pair amid a lack of high-impact economic data.
Technically, the EUR/USD pair regained momentum at the start of the week, surpassing the 1.1700 level, or a three-day high. If this support holds, the upside is expected to reach 1.17986 (in line with the Fibonacci 1.1618). What do you think about this? Do you agree with me?
The breakout from the descending channel has triggered an impressive bullish move. At the time of writing, the market is trading just below the key resistance at 1.17280. The uptrend remains strong, as prices consolidate near highs with steady action on the 2-hour timeframe.
On the macro side, the growing uncertainty surrounding the Federal Reserve’s interest rate cut path and the ongoing trade negotiations between the US and the EU have put the US Dollar on the defensive, providing support to the pair amid a lack of high-impact economic data.
Technically, the EUR/USD pair regained momentum at the start of the week, surpassing the 1.1700 level, or a three-day high. If this support holds, the upside is expected to reach 1.17986 (in line with the Fibonacci 1.1618). What do you think about this? Do you agree with me?
Trade active
Trade closed: target reached
EURUSD has been moving beautifully, and I believe there’s still plenty of room for it to climb even higher in the near future.
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💹 Sharing premium signals & smart market insights daily
🚀 7–10 accurate signals/day (Gold, Forex, BTC)
📊 Technical analysis with a personal edge
✅ Join my free signal group: t.me/+E4ZNW3ZeXiQ1Y2M9
🚀 7–10 accurate signals/day (Gold, Forex, BTC)
📊 Technical analysis with a personal edge
✅ Join my free signal group: t.me/+E4ZNW3ZeXiQ1Y2M9
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.