📈 I'm expecting a climb of this pair due to weakening USD.
This idea is based on both technical and fundamental parameters:
🔍 Fundamentals
ECB kept rates unchanged, signaling stability and reluctance to tighten policy further.
FED is expected to cut rates in 5 days, as inflation eases and growth concerns rise in the US.
A weaker dollar is likely to support EURUSD strength.
1.20 is a psychological and political level – above that, European exporters begin to suffer, and ECB might intervene verbally or with policy action.
🧠 Technical Setup
Price has reclaimed a key support zone around 1.17069 – 1.17488, with consolidation signaling accumulation.
Break of the descending trendline shows bullish intent.
Next major resistance lies at 1.18971, followed by 1.20049 – a strong historical level and likely ECB reaction zone.
Final target at 1.20669 – 1.20682 marked by previous highs.
Entry Zone: 1.17045–1.17488 (current area of interest)
Stop Loss: Below 1.16724
Targets: 1.18971 / 1.20049 / 1.20669
💬 Feel free to monitor price action at key zones. Entry should be based on reaction at support or a confirmed breakout. This is not a blind entry setup.
📅 If the FED cuts rates as expected, USD weakness could accelerate the move.
This idea is based on both technical and fundamental parameters:
🔍 Fundamentals
ECB kept rates unchanged, signaling stability and reluctance to tighten policy further.
FED is expected to cut rates in 5 days, as inflation eases and growth concerns rise in the US.
A weaker dollar is likely to support EURUSD strength.
1.20 is a psychological and political level – above that, European exporters begin to suffer, and ECB might intervene verbally or with policy action.
🧠 Technical Setup
Price has reclaimed a key support zone around 1.17069 – 1.17488, with consolidation signaling accumulation.
Break of the descending trendline shows bullish intent.
Next major resistance lies at 1.18971, followed by 1.20049 – a strong historical level and likely ECB reaction zone.
Final target at 1.20669 – 1.20682 marked by previous highs.
Entry Zone: 1.17045–1.17488 (current area of interest)
Stop Loss: Below 1.16724
Targets: 1.18971 / 1.20049 / 1.20669
💬 Feel free to monitor price action at key zones. Entry should be based on reaction at support or a confirmed breakout. This is not a blind entry setup.
📅 If the FED cuts rates as expected, USD weakness could accelerate the move.
Do not have 30K followers, do not have to share 15 trade a day, because you pay subscription, do not live from subscription, but sharing my knowledge trades and signals. For free. If you want to join, you are welcomed. t.me/+CE3Vdc5m72w4MjRk
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.
Do not have 30K followers, do not have to share 15 trade a day, because you pay subscription, do not live from subscription, but sharing my knowledge trades and signals. For free. If you want to join, you are welcomed. t.me/+CE3Vdc5m72w4MjRk
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.