Amid recent news, EUR/USD has shown notable volatility. Today, the pair edged lower around 1.1700 on profit-taking, despite strong expectations that the Fed may cut interest rates in September, which continues to weigh on the USD’s momentum. Yesterday, EUR/USD retreated after testing resistance at 1.1730, with RSI signals highlighting growing selling pressure at this level.
Earlier, Fed Chair Jerome Powell’s speech at Jackson Hole weakened the USD, fueling a strong rebound in EUR/USD from lows of 1.1583 to above 1.1700.
Currently, the pair is consolidating within a horizontal range, with 1.1740 acting as immediate resistance. Short-term EMAs still support a mild bullish bias, showing buyers remain in control. However, if price breaks below the EMA zone, the technical structure could swiftly shift to bearish, raising the risk of a deeper pullback.
Earlier, Fed Chair Jerome Powell’s speech at Jackson Hole weakened the USD, fueling a strong rebound in EUR/USD from lows of 1.1583 to above 1.1700.
Currently, the pair is consolidating within a horizontal range, with 1.1740 acting as immediate resistance. Short-term EMAs still support a mild bullish bias, showing buyers remain in control. However, if price breaks below the EMA zone, the technical structure could swiftly shift to bearish, raising the risk of a deeper pullback.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
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🔥 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.