Latest EURUSD update today

12 小時前

Hello everyone, great to see you again in today’s discussion on EUR/USD.

Currently, EUR/USD has extended its decline, trading below 1.0400, under pressure from recent market developments. The US dollar has regained strength following hawkish statements from the Federal Reserve, reinforcing expectations that interest rates will remain high. Additionally, concerns about Europe’s economic stability and weaker-than-expected economic data have put further pressure on the euro.

Looking at the technical setup, the pair has broken below the ascending trendline, confirming a bearish breakout. The bears are gaining control, as there are no signs of a bottom forming yet. If a retracement occurs, EUR/USD is expected to retest resistance around the 0.5 - 0.618 Fibonacci zone, which aligns with the confluence of EMA 34, 89, and a key resistance area, increasing the likelihood of further downside pressure.

📉 The preferred strategy in this scenario remains selling, at least in the short term.
🎯 Target levels: 1.033 and 1.028, with a further target at 1.023.

What do you think about EUR/USD?

Note: This is just a trade idea, so make sure to set Take Profit (TP) and Stop Loss (SL) properly when trading.
Happy trading, everyone! Wishing you all great profits!

11 小時前

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