Macro backdrop is favoring the euro:
Weaker U.S. labor market (only 73,000 new jobs) is boosting expectations of a Fed rate cut in September.
Political pressure on the Fed raises concerns about its independence → USD loses credibility.
EU–US trade deal eases tensions and supports confidence in the euro.
Technical Outlook
On the H4 chart, price has broken the downtrend line from July, forming a classic higher low structure – a hallmark of an uptrend.
Price is moving within a short-term ascending channel, targeting the 1.1780 resistance zone.
RSI has broken above 70, indicating strong buying momentum but also signaling a potential short-term pullback.
Suggested Trading Strategy
Prefer to Buy on dips toward the 1.1570–1.1600 support zone.
Near-term target: 1.1780
Stop loss: Below 1.1520
Weaker U.S. labor market (only 73,000 new jobs) is boosting expectations of a Fed rate cut in September.
Political pressure on the Fed raises concerns about its independence → USD loses credibility.
EU–US trade deal eases tensions and supports confidence in the euro.
Technical Outlook
On the H4 chart, price has broken the downtrend line from July, forming a classic higher low structure – a hallmark of an uptrend.
Price is moving within a short-term ascending channel, targeting the 1.1780 resistance zone.
RSI has broken above 70, indicating strong buying momentum but also signaling a potential short-term pullback.
Suggested Trading Strategy
Prefer to Buy on dips toward the 1.1570–1.1600 support zone.
Near-term target: 1.1780
Stop loss: Below 1.1520
Trade active
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📍 Accurate, verified technical analysis
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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.
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.