EURUSD: False Resistance Break Could Add to Decline
已更新
As expected, EURUSD continues to hit new lows, currently hovering around the 1.062 level.
The Euro's retreat has largely been driven by a sharp rally in the U.S. dollar (USD), pushing the U.S. Dollar Index (DXY) above 106.00, marking multi-month highs. This surge is fueled by market optimism surrounding the so-called “Trump trade,” with investors betting on potential policies under the upcoming Trump administration.
On higher timeframes, EURUSD is testing a solid support level, which might trigger a corrective move. However, on the 4-hour timeframe, we can clearly observe a downtrend, with the 34 and 89 EMA acting as resistance and continuing to weaken the buying side. Therefore, any strong resistance level is likely to maintain control over the market.
Currently, we are watching for a potential false breakout of the trend resistance, with the aim of consolidation. This consolidation is generally forming within a channel, and if sellers maintain control around the 1.605 - 1.068 area, which aligns with the 0.618 Fibonacci level, we should expect a decline toward key areas of interest in the medium term.
The Euro's retreat has largely been driven by a sharp rally in the U.S. dollar (USD), pushing the U.S. Dollar Index (DXY) above 106.00, marking multi-month highs. This surge is fueled by market optimism surrounding the so-called “Trump trade,” with investors betting on potential policies under the upcoming Trump administration.
On higher timeframes, EURUSD is testing a solid support level, which might trigger a corrective move. However, on the 4-hour timeframe, we can clearly observe a downtrend, with the 34 and 89 EMA acting as resistance and continuing to weaken the buying side. Therefore, any strong resistance level is likely to maintain control over the market.
Currently, we are watching for a potential false breakout of the trend resistance, with the aim of consolidation. This consolidation is generally forming within a channel, and if sellers maintain control around the 1.605 - 1.068 area, which aligns with the 0.618 Fibonacci level, we should expect a decline toward key areas of interest in the medium term.
交易進行
.
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。