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Eur-usd

Can it Reach New Highs as USD Weakens?EUR/USD: Euro's Resilience Holds Strong – Can it Reach New Highs as USD Weakens? 🌍 Macro Landscape: EUR/USD Rides Risk-On Sentiment and Fed Cut Hopes The Euro (EUR) is showing significant strength, maintaining its position near a three-year high against the US Dollar (USD). This resilience is largely fueled by a moderately positive risk appetite in the market. Simultaneously, the US Dollar is facing considerable downward pressure. This weakness stems from recent weaker-than-expected economic data from the United States and increasing market expectations for the Federal Reserve (Fed) to implement interest rate cuts. If US economic indicators continue to soften, it could solidify the case for earlier Fed rate cuts, further undermining the USD and potentially boosting EUR/USD. 🏦 Central Bank Policy: Diverging Paths for ECB and Fed Federal Reserve (Fed): The market is increasingly pricing in the likelihood of Fed interest rate cuts. Weaker US data strengthens this narrative, as the Fed might be compelled to ease monetary policy to support economic growth. This dovish outlook for the Fed is a key driver of USD weakness. European Central Bank (ECB): While the provided information focuses on the EUR's strength due to broader market sentiment and USD weakness, the ECB's more measured approach to monetary policy compared to the Fed's potential easing can create a favorable interest rate differential for the Euro, attracting capital flows. This divergence in central bank policy expectations—with the Fed leaning towards cuts and the ECB maintaining a more cautious stance—creates a tailwind for the EUR/USD pair. 🌐 Capital Flows: Money Favors Euro Amidst USD Softness Global capital flow models suggest that funds are increasingly moving towards assets perceived as offering better relative value or stability. As US yields become less attractive due to anticipated Fed rate cuts, capital may flow out of USD-denominated assets. This outflow from the USD naturally benefits currencies like the Euro, especially given its current positive momentum driven by a moderate risk-on environment. The re-pricing of Fed policy risk directly influences these capital movements, contributing to the upward trajectory of EUR/USD. 📊 Technical Structure (H4 Chart Analysis): EUR/USD Eyes Key Resistance Levels Based on the provided EUR/USD H4 chart: Uptrend intact: The pair continues to exhibit a positive trend, characterized by higher lows and higher highs within an ascending channel. Key Resistance Levels: Initial Resistance: 1.16330. This level aligns with recent highs and the top of the minor channel. A break above this suggests further bullish momentum. Major Resistance Zone: 1.17031. This is indicated as a significant resistance area, potentially a long-term target or a reversal point. A break here would confirm strong bullish conviction. Key Support Levels: Immediate Support: 1.15470. This level has acted as a support point, aligning with the EMA 200 and a Fibonacci retracement level, indicating a potential bounce area. Strong Support Zone: 1.15249. This zone represents a robust demand area, aligning with previous price action and serving as a crucial level for bulls to defend. Moving Averages (EMA 13-34-89-200): The price is trading above the short-term and long-term EMAs, suggesting strong bullish momentum. The EMAs are fanning out and showing a bullish alignment, reinforcing the uptrend. Projected Price Action: The chart suggests that the price might retrace towards the 1.15470 or 1.15249 support zones before resuming its upward trajectory towards the 1.16330 and potentially 1.17031 resistance levels. 🎯 Trade Strategy Recommendations: Scenario 1 – BUY the Dip: Entry: Look for bullish confirmation around 1.15470 - 1.15249. Stop-Loss: Below 1.15100 (or a level below the 1.15249 support for risk management). Take-Profit: TP1: 1.15600 TP2: 1.15800 TP3: 1.16000 TP4: 1.16200 TP5: 1.16330 (Targeting the immediate resistance) TP6: 1.16500 TP7: 1.16800 TP8: 1.17031 (Targeting the major resistance) Scenario 2 – SELL the Rally (Counter-trend/Reversal): Entry: Look for bearish confirmation around 1.16330 - 1.16400 or higher near 1.17031. Stop-Loss: Above 1.16500 (or above 1.17100 if selling at higher resistance). Take-Profit: TP1: 1.16200 TP2: 1.16000 TP3: 1.15800 TP4: 1.15600 TP5: 1.15470 (Targeting the immediate support) TP6: 1.15249 (Targeting the strong support zone) ⚠️ Key Events to Watch: Upcoming US Economic Data: Any further weak data could solidify Fed rate cut expectations and weigh on the USD. ECB Official Statements: Comments from ECB members on inflation or monetary policy could impact EUR's strength. Global Risk Sentiment: A continued moderate risk-on environment will generally support the EUR against the USD. Trade smart and stay informed! Wishing everyone a successful trading day!
Long
by MMFlowTrading
1
EURUSD: Can it reach 1.1900?EURUSD is bullish on its 1D technical outlook (RSI = 65.234, MACD = 0.006, ADX = 20.419) and is going for a 3 week high. This is technically a long term bullish wave (since the January 13th 2025 low) on the 3 year Channel Up. We anticipate that this wave will go for the pattern's high by the end of the year, and being limited by the 7 year LH trendline, we expect to aim for at least 1.1900. The 1W RSI has started to post a sequence that resembles the last 3 major ones. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
Could the Fiber reverse from here?The price is reacting off the pivot which is a pullback resistance and could drop from this level to the 1st 50% Fibonacci support. Pivot: 1.1631 1st Support: 1.1552 1st Resistance: 1.1677 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
EURUSD - Shifting from Bearish to Bullish Soon!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURUSD has been overall bullish trading within the rising wedge marked in blue. Moreover, the orange zone is a strong support! 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #EURUSD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by TheSignalyst
4
Bullish rise?The Fiber (EUR/USD) has broken out of the pivot and could rise to the 1st resistance. Pivot: 1.1569 1st Support: 1.1530 1st Resistance: 1.1631 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bullish rise?EUR/USD is falling towards the support level which is an overlap support and could bounce from this level too ur take profit. Entry: 1.1526 Why we like it: There is an overlap support level. Stop loss: 1.1486 Why we like it: There is a pullback support level. Take profit: 1.1602 Why we like it: There is a pullback resistance level that aligns with the 161.8% Fibonacci extension. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURUSD Channel Up formed bottom. Heavily bullish.The EURUSD pair has been trading within a Channel Up since the May 12 Low. Today it hit its 4H MA100 (green trend-line) for the first time since May 12 and having just broken also above its 4H MA50 (blue trend-line), it confirmed that the pattern has already priced its bottom. This is initiating the new Bullish Leg and based on the previous two, it should grow by at least +3.21%. We have a modest short-term Target at 1.1800. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Bearish reversal?EUR/USD is rising towards the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.1555 Why we like it: There is a pullback resistance that lines up with the 61.8% Fibonacci retracement. Stop loss: 1.1608 Why we like it: There is a pullback resistance. Take profit: 1.1483 Why we like it: There is a pullback support level that aligns with the 61.8% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
EURUSD POSSIBLE TRADE SETUP💶 Potential Trade Setup on EURUSD Overview: Since March, EURUSD has shown consistent bullish momentum, especially after breaking through the key 1.0600 supply zone. The pair has maintained higher highs and higher lows, suggesting continued strength in the medium term. That said, I am still quite anticipating for a possible continuation of the bullish momentum that started a long time ago, and moving forward, I will anticipate for a clear retest of the 50% fib at the 1.1425 region, then I go in for the kill. Alternatively, there is a clear short opportunity, provided that, the bullish trendline is broken and the 1.1370 region is broken to the downside, this is a bit far a stretch, but it is in play. "IF" the DXY keeps the bullish momentum going. 🧭 Trading Plan: ✅ BUY Bias (Primary Plan): Look for a retest of the 50% Fibonacci retracement zone around 1.1425. This aligns with the ongoing momentum on the 4H timeframe. 🔻 SELL Bias (Alternative Scenario): If price breaks the bullish trendline and the 1.1370 support zone, a short opportunity opens up. This is only valid if DXY continues to strengthen, shifting sentiment. 🎯 Targets & Risk Management: Targeting 1:2 R:R on both setups. Ensure entries are backed by price action signals and confluences.
Long
by Adefxc
EUR/USD - H4 - Triangle Formation (31.05.2025)The EUR/USD pair on the H4 timeframe presents a recent Formation of a Triangle Pattern. 1. Wait for Breakout with Good Volume 2. Conformation in short Timeframe Must 🎁 Please hit the like button and 🎁 Leave a comment to support for My Post ! Fundamental Updates : Dollar mixed on tariff uncertainty, U.S. President Donald Trump to battle a U.S. trade court ruling that blocked most of his proposed tariffs. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
by KABHI_TA_TRADING
26
EURUSD SHORT FORECAST Q2 W25 D20 Y25EURUSD SHORT FORECAST Q2 W25 D20 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block rejection ✅15' order block ✅4 hour order block identified ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
Bullish bounce off pullback support?The Fiber (EUR/USD) has bounced off the pivot and could rise to the 1st resistance. Pivot: 1.1444 1st Support: 1.1369 1st Resistance: 1.1587 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bullish bounce?EUR/USD is falling towards the support level which is a pullback support that lines up with the 71% Fibonacci retracement and could rise from this level to our take profit. Entry: 1.1445 Why we like it: There is a pullback support level that aligns with the 71% Fibonacci retracement. Stop loss: 1.1386 Why we like it: There is a pullback support level that is slightly above the 61.8% Fibonacci retracement. Take profit:1.1514 Why we like it: There is an overlap resistance level that lines up with the 38.2% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURUSD pushing away from 2025 highsAfter creating a new 2025 high last week, MARKETSCOM:EURUSD is now in a slight correction mode. Will the bears take control from here? Let's have a look. FX_IDC:EURUSD Let us know what you think in the comments below. Thank you. 77.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
by Marketscom
EURUSD - Getting Over-Bought?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURUSD has been overall bullish trading within the rising channels marked in red and blue. However, it is currently retesting the upper bound of the channels. Moreover, the orange zone is a major daily high. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue/red trendlines and daily high. 📚 As per my trading style: As #EURUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by TheSignalyst
5
Potential bullish rise?The Fiber (EUR/USD) is reacting off the pivot and could drop to the 1st support. Pivot: 1.1525 1st Support: 1.1455 1st Resistance: 1.1569 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Potential bearish drop?EUR/USD has rejected off the resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.1524 Why we like it: There is a pullback resistance level that align with the 38.2% Fibonacci retracement. Stop loss: 1.1572 Why we like it: There is a pullback resistance level that is slightly above the 61.8% Fibonacci retracement. Take profit: 1.1452 Why we like it: There is a pullback support level that lines up with the 127.2% Fibonacci extension. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
EURUSD: 4H MA50 may start aggressive rally to 1.17900.EURUSD is bullish on its 1D technical outlook (RSI = 58.513, MACD = 0.005, ADX = 36.044), trading inside a Channel Up for the past 5 weeks. Yesterday it made contact with its 4H MA50, which is the most common level of support inside this pattern. Based on that, we find highly probable for the pair to start the new bullish wave. A HH on the 2.0 Fibonacci extension has been a common feature of this Channel Up, hence we are turning bullish here with TP = 1.17900. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
Bullish bounce?The Fiber (EUR/USD) is falling towards the pivot and could bounce to the 1st resistance. Pivot: 1.1451 1st Support: 1.1342 1st Resistance: 1.1614 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
Goldman and BofA agree: The dollar is losing its edgeGoldman Sachs now expects the EUR/USD to hit 1.20 by the end of the year. While this prediction draws comparisons to the 2017 rally in the pair, Goldman notes a key difference. This time, the pricing reflects pessimism in the US dollar, rather than optimism in the euro. Bank of America seemingly agrees and warns that even a “hawkish” dot plot at this week’s FOMC meeting, where Fed officials signal fewer rate cuts, may only cause a brief bout of euro weakness against the dollar. EUR/USD has recently broken out of a long-term descending triangle pattern, which capped price action from mid-April through early June, aligning with Goldman Sachs’ and BofA’s view of a broad EUR strength/ USD weakness. This recent pullback to the 1.1480 area is a retest of former resistance turned support, suggesting a potential continuation pattern if buyers defend this level.
by BlackBull_Markets