The technical picture reveals that EURUSD is losing momentum after a brief rebound. The 1.1700 level stands as a key resistance – if bulls fail to break it, the bears will take the wheel! A clear scenario is forming: lower highs, FVGs filled, and a potential drop toward the 1.1580 support zone this week.
The bad news for the euro isn’t over: yesterday’s Eurozone PMI data disappointed heavily, signaling stagnating growth. Meanwhile, the USD is gaining traction from strong labor data and hawkish Fed remarks, putting EURUSD under double pressure.
If the ascending trendline breaks, EURUSD could plunge even further – get ready for a potential breakdown!
Suggested strategy: Prioritize SELL below 1.1700, with a short-term target at 1.1580.
Stop-loss: Above 1.1720 – a breakout here would invalidate the bearish setup.
The bad news for the euro isn’t over: yesterday’s Eurozone PMI data disappointed heavily, signaling stagnating growth. Meanwhile, the USD is gaining traction from strong labor data and hawkish Fed remarks, putting EURUSD under double pressure.
If the ascending trendline breaks, EURUSD could plunge even further – get ready for a potential breakdown!
Suggested strategy: Prioritize SELL below 1.1700, with a short-term target at 1.1580.
Stop-loss: Above 1.1720 – a breakout here would invalidate the bearish setup.
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📍 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.
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.