Hey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around the 1.16500 zone. EURUSD is trading in a downtrend and currently is in a correction phase in which price is approaching the trendline resistance around the 1.16500 support and resistance area.
From the macro side, the US Dollar remains supported by elevated Treasury yields and persistent inflation concerns, as markets continue to scale back expectations for aggressive Fed easing. This higher-for-longer Fed narrative is helping keep the USD firm and continues to pressure major currency pairs like EURUSD.
At the same time, the Euro remains vulnerable as weaker eurozone growth expectations and softer sentiment weigh on the currency, while the ECB faces increasing pressure to balance slowing economic momentum with still-sensitive inflation dynamics. With the dollar stabilizing and EURUSD trading within a broader bearish structure, rallies into resistance continue to look attractive for sellers.
As long as price remains below the 1.16500 resistance zone, the bearish structure remains intact, and we anticipate continuation toward lower support levels.
Trade safe,
Joe
From the macro side, the US Dollar remains supported by elevated Treasury yields and persistent inflation concerns, as markets continue to scale back expectations for aggressive Fed easing. This higher-for-longer Fed narrative is helping keep the USD firm and continues to pressure major currency pairs like EURUSD.
At the same time, the Euro remains vulnerable as weaker eurozone growth expectations and softer sentiment weigh on the currency, while the ECB faces increasing pressure to balance slowing economic momentum with still-sensitive inflation dynamics. With the dollar stabilizing and EURUSD trading within a broader bearish structure, rallies into resistance continue to look attractive for sellers.
As long as price remains below the 1.16500 resistance zone, the bearish structure remains intact, and we anticipate continuation toward lower support levels.
Trade safe,
Joe
Сделка активна
what a decent trigger from the trend!
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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
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.