Current Market Sentiment: The EUR/USD currency pair is trading in a neutral range, with recent price action moving sideways. The key level to watch is 1.0530, which could dictate the next directional move.
Bullish Scenario:
A confirmed breakout above 1.0530 could trigger a bullish move, leading to further upside momentum. If buyers sustain control, the next resistance levels to watch are:
1.0590 – Initial resistance, where profit-taking or consolidation may occur.
1.0650 – A stronger resistance level, potentially capping further gains unless a sustained bullish trend develops.
A break above 1.0650 could signal a broader trend shift toward higher levels.
Bearish Scenario:
If EUR/USD fails to hold above 1.0530 and faces selling pressure, a downside retracement could follow. In that case, the key support levels are:
1.0480 – Initial downside target, where buyers may attempt to stabilize the pair.
1.0425 – A deeper support zone, where renewed demand could emerge.
1.0357 – A major support level, a break below which could confirm further bearish momentum.
Conclusion:
The 1.0530 level remains a critical pivot for the next directional move. A breakout above it could fuel bullish momentum, while rejection and selling pressure could lead to a deeper pullback. Traders should monitor price action around this level to determine the next trend direction.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Bullish Scenario:
A confirmed breakout above 1.0530 could trigger a bullish move, leading to further upside momentum. If buyers sustain control, the next resistance levels to watch are:
1.0590 – Initial resistance, where profit-taking or consolidation may occur.
1.0650 – A stronger resistance level, potentially capping further gains unless a sustained bullish trend develops.
A break above 1.0650 could signal a broader trend shift toward higher levels.
Bearish Scenario:
If EUR/USD fails to hold above 1.0530 and faces selling pressure, a downside retracement could follow. In that case, the key support levels are:
1.0480 – Initial downside target, where buyers may attempt to stabilize the pair.
1.0425 – A deeper support zone, where renewed demand could emerge.
1.0357 – A major support level, a break below which could confirm further bearish momentum.
Conclusion:
The 1.0530 level remains a critical pivot for the next directional move. A breakout above it could fuel bullish momentum, while rejection and selling pressure could lead to a deeper pullback. Traders should monitor price action around this level to determine the next trend direction.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.