EURUSD continues to struggle after its breakdown from the 1.1600 region. The pair has not shown a convincing recovery, and recent price action suggests sellers are still controlling the market.
The macro backdrop remains supportive for the US Dollar. Stronger US service-sector data and the Fed’s cautious stance on rate cuts have helped maintain demand for USD, while weaker Eurozone activity data continues to weigh on the euro.
Trade Setup:
Sell Zone: 1.1450 – 1.1490
Stop Loss: 1.1535
Take Profit 1: 1.1400
Take Profit 2: 1.1350
Take Profit 3: 1.1300
As long as EURUSD remains below 1.1490, rallies may continue to be viewed as opportunities to sell rather than signs of a lasting recovery.
The macro backdrop remains supportive for the US Dollar. Stronger US service-sector data and the Fed’s cautious stance on rate cuts have helped maintain demand for USD, while weaker Eurozone activity data continues to weigh on the euro.
Trade Setup:
Sell Zone: 1.1450 – 1.1490
Stop Loss: 1.1535
Take Profit 1: 1.1400
Take Profit 2: 1.1350
Take Profit 3: 1.1300
As long as EURUSD remains below 1.1490, rallies may continue to be viewed as opportunities to sell rather than signs of a lasting recovery.
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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.
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.