The EUR/USD pair is currently trading at a strong resistance level. This area stands out both because it has historically been a zone of intensified selling pressure and because indicators like the RSI are giving overbought signals.
On the other hand, the DXY being at a support area and the potential for an upward response suggests that the dollar may strengthen against the euro. If this scenario occurs, we are likely to see a downward correction in the EUR/USD pair.
On the other hand, the DXY being at a support area and the potential for an upward response suggests that the dollar may strengthen against the euro. If this scenario occurs, we are likely to see a downward correction in the EUR/USD pair.
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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.