Hey Traders, in today’s trading session we are monitoring EURUSD for a potential buying opportunity around the 1.16100 zone. The pair remains in a broader uptrend and is currently in a correction phase, approaching a strong daily support area at 1.16100 that aligns with the ascending trendline.
Structure: The market has been maintaining higher highs and higher lows, with the current retracement offering a potential continuation setup within the bullish structure.
Key level in focus: 1.16100 — a critical zone of confluence between daily support and trend structure, where buyers have previously shown strong interest.
Fundamentals: The US Dollar Index (DXY) is nearing the 98.800 daily resistance while facing headwinds from the ongoing US government shutdown. Extended fiscal uncertainty and a weakening DXY backdrop strengthen the bullish case for EURUSD.
Next move: Watching price reaction at 1.16100 for potential bullish continuation — sustained buying pressure here could pave the way for a move toward recent highs.
Trade safe,
Joe.
Structure: The market has been maintaining higher highs and higher lows, with the current retracement offering a potential continuation setup within the bullish structure.
Key level in focus: 1.16100 — a critical zone of confluence between daily support and trend structure, where buyers have previously shown strong interest.
Fundamentals: The US Dollar Index (DXY) is nearing the 98.800 daily resistance while facing headwinds from the ongoing US government shutdown. Extended fiscal uncertainty and a weakening DXY backdrop strengthen the bullish case for EURUSD.
Next move: Watching price reaction at 1.16100 for potential bullish continuation — sustained buying pressure here could pave the way for a move toward recent highs.
Trade safe,
Joe.
Trade ist aktiv
Price is testing support now, let's see how it goes!
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Free Telegram Group:
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.