Hello traders,
EUR/USD is currently fluctuating around 1.1644 after retreating from the 1.1720 zone. On the H2 chart, the short-term trend leans bearish as the euro failed to sustain above 1.1700 and is gradually moving toward the key support at 1.1620–1.1600.
Price action shows selling pressure intensifies whenever the pair approaches the 1.1670–1.1700 range, where an unfilled Fair Value Gap (FVG) remains. This area may serve as the main barrier for any technical rebound. Meanwhile, the Ichimoku cloud continues to surround price action, reflecting indecision and a lack of clear trend signals.
On the fundamental side, the USD remains supported by expectations that the Fed will keep rates higher for longer, especially as U.S. economic data points to resilience. In contrast, the euro is weighed down by sluggish growth in the Eurozone, particularly in Germany, which continues to face recession risks. All eyes are now on the upcoming Jackson Hole Symposium, where any hawkish remarks from the Fed could add further pressure on EUR/USD.
Thank you for reading — let me know your view in the comments!
EUR/USD is currently fluctuating around 1.1644 after retreating from the 1.1720 zone. On the H2 chart, the short-term trend leans bearish as the euro failed to sustain above 1.1700 and is gradually moving toward the key support at 1.1620–1.1600.
Price action shows selling pressure intensifies whenever the pair approaches the 1.1670–1.1700 range, where an unfilled Fair Value Gap (FVG) remains. This area may serve as the main barrier for any technical rebound. Meanwhile, the Ichimoku cloud continues to surround price action, reflecting indecision and a lack of clear trend signals.
On the fundamental side, the USD remains supported by expectations that the Fed will keep rates higher for longer, especially as U.S. economic data points to resilience. In contrast, the euro is weighed down by sluggish growth in the Eurozone, particularly in Germany, which continues to face recession risks. All eyes are now on the upcoming Jackson Hole Symposium, where any hawkish remarks from the Fed could add further pressure on EUR/USD.
Thank you for reading — let me know your view in the comments!
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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.