As I explained before, my bias on EURUSD is bearish.
In yesterday’s DXY analysis, I mentioned that as long as the 98.60 zone remains intact, the U.S. Dollar Index has high chances to extend its rise toward 100.00.
That scenario is playing out perfectly so far.
Yesterday, EURUSD erased the entire Friday’s up move, falling back to its local support area. This type of reversal structure is typically seen in weak markets — when bullish attempts are quickly negated by strong selling pressure.
From a technical standpoint, this is very bearish price action. The market keeps testing the same support level without any meaningful bounce, which usually leads to a breakdown rather than a reversal.
My strategy remains unchanged:
• Bias: Bearish
• Plan: Sell rallies
• Short-term view: Pressure remains on the downside
• Medium-term target: 1.1400, with respect for the 1.1500 psychological level
As long as DXY holds above 98.60, EURUSD should remain under pressure. The pair might consolidate briefly, but the broader structure still points lower.
In yesterday’s DXY analysis, I mentioned that as long as the 98.60 zone remains intact, the U.S. Dollar Index has high chances to extend its rise toward 100.00.
That scenario is playing out perfectly so far.
Yesterday, EURUSD erased the entire Friday’s up move, falling back to its local support area. This type of reversal structure is typically seen in weak markets — when bullish attempts are quickly negated by strong selling pressure.
From a technical standpoint, this is very bearish price action. The market keeps testing the same support level without any meaningful bounce, which usually leads to a breakdown rather than a reversal.
My strategy remains unchanged:
• Bias: Bearish
• Plan: Sell rallies
• Short-term view: Pressure remains on the downside
• Medium-term target: 1.1400, with respect for the 1.1500 psychological level
As long as DXY holds above 98.60, EURUSD should remain under pressure. The pair might consolidate briefly, but the broader structure still points lower.
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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.