EURUSD: Weak at Resistance, Potential for Further Decline
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EURUSD remains under pressure from the bearish trend, hovering around 1.04686 after a mild recovery from the support zone of 1.03878. However, the strong resistance at 1.05284 proves to be a "formidable wall," with the EMA 34 (1.05095) and EMA 89 (1.05979) acting as significant barriers to upward momentum.
Bearish signals persist, with the descending channel serving as a "slippery slope" that EURUSD struggles to climb. Failure to break through the 1.05284 resistance could trigger a significant drop, pushing prices to retest the 1.03878 support or even lower to 1.03000.
The strengthening USD, following Trump's tariff announcements, has added pressure to EURUSD as safe-haven demand rises and economic strain mounts in Europe.
Bearish signals persist, with the descending channel serving as a "slippery slope" that EURUSD struggles to climb. Failure to break through the 1.05284 resistance could trigger a significant drop, pushing prices to retest the 1.03878 support or even lower to 1.03000.
The strengthening USD, following Trump's tariff announcements, has added pressure to EURUSD as safe-haven demand rises and economic strain mounts in Europe.
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