Euro / U.S. DollarShort
EURUSD: Diverging Monetary Policies and Continued Euro Weaknes
In the previous analysis, we discussed the continued decline of the EURUSD pair. On the weekly time frame, the 1.03 support level is crucial, and breaking it could pave the way toward parity.
On the daily time frame, as long as the descending trendline remains intact, the outlook favors further declines. The identified supply zone offers a potential opportunity for renewed selling. Breaking the 1.03 support won't be easy, and a retest of this level is likely before the bearish trend continues, presenting a second opportunity for a short position.
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.
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.