Greetings everyone,
The EUR/USD pair is trading in a narrow range this week as markets await decisive signals from both the Eurozone and the United States. On the European side, sticky inflation has reduced immediate expectations of monetary easing from the ECB. Meanwhile, in the US, upcoming data including the Services PMI and Non-Farm Payrolls are likely to guide Federal Reserve expectations and inject volatility into the dollar.
From a technical perspective, the H4 chart shows price action hovering around the 1.163 handle with little directional conviction. The thin Ichimoku cloud and frequent Tenkan–Kijun crossovers highlight indecision. Key resistance stands at 1.1665–1.1700, while support remains firm near 1.1585–1.1550.
Possible outcomes:
What’s your view? Will the breakout finally come to the upside or downside?
The EUR/USD pair is trading in a narrow range this week as markets await decisive signals from both the Eurozone and the United States. On the European side, sticky inflation has reduced immediate expectations of monetary easing from the ECB. Meanwhile, in the US, upcoming data including the Services PMI and Non-Farm Payrolls are likely to guide Federal Reserve expectations and inject volatility into the dollar.
From a technical perspective, the H4 chart shows price action hovering around the 1.163 handle with little directional conviction. The thin Ichimoku cloud and frequent Tenkan–Kijun crossovers highlight indecision. Key resistance stands at 1.1665–1.1700, while support remains firm near 1.1585–1.1550.
Possible outcomes:
- Strong US data could shift momentum in favour of the dollar, driving a breakdown towards 1.1500.
- Softer US releases, combined with a hawkish ECB stance, may fuel a breakout above 1.1700 with potential extension to 1.1760.
- Mixed signals could keep EUR/USD consolidating near 1.163 until clarity emerges.
What’s your view? Will the breakout finally come to the upside or downside?
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📊 Instant insights.
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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.