EUR/USD: Cautious Outlook Amid Potential Bearish Continuation
Hello,
The EUR/USD is currently on traders' watchlists for a potential bullish move towards approximately 1.10884 or 1.11505. However, there is an expectation of USD strengthening in the near future, which could lead to a bearish continuation, potentially extending beyond the 1Y pivot point (PP). While a retest of the 1W PP is possible, the long-term outlook suggests a selling condition, as confirmed by the SMA and EMA trends.
Despite this, the price remains above the 1M PP. For a bearish continuation to be confirmed, the price needs to stabilize and remain below the 1M PP. Until this happens, caution is advised.
TradeWithTheTrend3344
The EUR/USD is currently on traders' watchlists for a potential bullish move towards approximately 1.10884 or 1.11505. However, there is an expectation of USD strengthening in the near future, which could lead to a bearish continuation, potentially extending beyond the 1Y pivot point (PP). While a retest of the 1W PP is possible, the long-term outlook suggests a selling condition, as confirmed by the SMA and EMA trends.
Despite this, the price remains above the 1M PP. For a bearish continuation to be confirmed, the price needs to stabilize and remain below the 1M PP. Until this happens, caution is advised.
TradeWithTheTrend3344
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.