EURUSD SELL NOW on Monday
EUR/USD remains in positive ground on Friday, as profit-taking hit the US Dollar ahead of the weekend. Still, Powell's hawkish shift and upbeat United States data keeps the Greenback on the bullish pathFurther losses could see EUR/USD testing its 2024 low at 1.0495 (November 14), before the 2023 bottom at 1.0448 (October 3).
On the upside, immediate resistance lies at the 200-day SMA of 1.0865, seconded by the November high at 1.0936 (November 6) and the provisional 55-day SMA at 1.0947.
In addition, the short-term technical outlook remains bearish as long as EUR/USD stays below the 200-day SMA.
The four-hour chart highlights accelerating downward momentum, with key support levels at 1.0495 and 1.0448. On the upside, initial resistance appears at 1.0653, followed by 1.0726. The RSI rebounded above 32.Looking forward, potential trade policies from the Trump administration, including tariffs on European and Chinese goods, could push US inflation higher. If the Fed adopts a cautious or hawkish stance, it may continue to lend support to the US Dollar.
On the upside, immediate resistance lies at the 200-day SMA of 1.0865, seconded by the November high at 1.0936 (November 6) and the provisional 55-day SMA at 1.0947.
In addition, the short-term technical outlook remains bearish as long as EUR/USD stays below the 200-day SMA.
The four-hour chart highlights accelerating downward momentum, with key support levels at 1.0495 and 1.0448. On the upside, initial resistance appears at 1.0653, followed by 1.0726. The RSI rebounded above 32.Looking forward, potential trade policies from the Trump administration, including tariffs on European and Chinese goods, could push US inflation higher. If the Fed adopts a cautious or hawkish stance, it may continue to lend support to the US Dollar.
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