Market Analysis: EURTHB is likely to trade within a range. The Euro faces headwinds following the ECB’s decision to hold interest rates as expected while signaling a wait-and-see approach for incoming economic data. Today, investors are closely watching the Eurozone Manufacturing and Services PMI. Stronger-than-expected PMI data could support the Euro, though overall direction will still heavily depend on U.S. economic data, which could boost the U.S. Dollar and pressure EURTHB short term
Technical Outlook: The overall chart maintains a downtrend, but a short-term rebound is emerging after testing support near 38.48 with buying pressure stepping in. The broader structure remains bullish as long as price holds above 38.48. A solid move and hold above 38.55 would provide a positive signal, opening the door for a retest of 38.58–38.60. However, with MACD in negative territory and RSI below 50, downside risk remains if 38.48 breaks, potentially dragging prices toward 38.45–38.43.
Support Level : 38.45 – 38.43
Target : 38.58 – 38.60
Stop Loss : 38.42
Technical Outlook: The overall chart maintains a downtrend, but a short-term rebound is emerging after testing support near 38.48 with buying pressure stepping in. The broader structure remains bullish as long as price holds above 38.48. A solid move and hold above 38.55 would provide a positive signal, opening the door for a retest of 38.58–38.60. However, with MACD in negative territory and RSI below 50, downside risk remains if 38.48 breaks, potentially dragging prices toward 38.45–38.43.
Support Level : 38.45 – 38.43
Target : 38.58 – 38.60
Stop Loss : 38.42
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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.