This analysis focuses on the EUR/USD daily chart, highlighting key levels and potential scenarios based on technical and fundamental factors.
1. Resistance:
• The 1.0350 level acts as a critical resistance unless major positive Eurozone data surprises occur. A break above this could lead to a medium-term recovery.
2. Short-Term Outlook (1-2 Weeks):
• Likely to test the 1.0200 support, with the potential for an extension toward 1.0150. This is driven by strong U.S. economic data and DXY (Dollar Index) momentum.
3. Medium-Term Outlook (1-3 Months):
• Below 1.0150, a drop toward parity (1.0000) becomes possible, especially if the DXY rises above 110.
4. Breakout Scenarios:
• Bearish: A sustained break below 1.0150 could target 1.0000.
• Bullish: A move above 1.0450 may lead to a recovery toward 1.0600, particularly if the Fed signals a dovish pivot.
This idea takes into account technical analysis, supported by macroeconomic fundamentals. Trade cautiously, and use clearly defined stop-loss levels to manage risk effectively.
1. Resistance:
• The 1.0350 level acts as a critical resistance unless major positive Eurozone data surprises occur. A break above this could lead to a medium-term recovery.
2. Short-Term Outlook (1-2 Weeks):
• Likely to test the 1.0200 support, with the potential for an extension toward 1.0150. This is driven by strong U.S. economic data and DXY (Dollar Index) momentum.
3. Medium-Term Outlook (1-3 Months):
• Below 1.0150, a drop toward parity (1.0000) becomes possible, especially if the DXY rises above 110.
4. Breakout Scenarios:
• Bearish: A sustained break below 1.0150 could target 1.0000.
• Bullish: A move above 1.0450 may lead to a recovery toward 1.0600, particularly if the Fed signals a dovish pivot.
This idea takes into account technical analysis, supported by macroeconomic fundamentals. Trade cautiously, and use clearly defined stop-loss levels to manage risk effectively.
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.