Welcome, dear traders. Today, we present an important analysis of the EURUSD forex trading pair. Let’s dive into the analysis without wasting time.
EURUSD Technical Analysis & Forecast (Key Level, Trend, and Trade Setup) by Guriforex
The EURUSD pair is currently trading near a key support zone at 1.0450, showing signs of a potential downside move. After a strong bullish rally, the price is now in a correction phase. Traders are closely watching whether this is a temporary pullback or the beginning of a trend reversal.
📊 EURUSD Technical Analysis & Market Outlook
🔻 Entry Point: 1.0450 – This level acts as a key support; a break below could trigger further selling pressure.
🎯 Target Profit: 1.0400 – A previously tested level that could serve as the next support.
🛑 Stop Loss: 1.0470 – Above this zone, the bearish outlook may become invalid.
🔸 EURUSD Support & Resistance Analysis
EURUSD recently rejected 1.0480 resistance, signaling bearish strength. If sellers push the price below 1.0450, the next likely support zone is 1.0400. A sustained move below this level could open further downside potential.
🌎 Global Sentiment & Key Market Drivers
📉 U.S. Dollar Strength
The U.S. Dollar Index (DXY) has been gaining momentum due to hawkish comments from the Federal Reserve, suggesting a possible delay in interest rate cuts. A strong dollar weakens the pair.
📊 Eurozone Economic Weakness
Recent data from the Eurozone indicates slowing economic growth, adding further pressure on the euro. The ECB’s cautious approach to monetary policy may limit upside potential for EURUSD
🛑 Geopolitical & Risk-Off Sentiment
Uncertainty in global markets, including concerns over inflation, interest rates, and geopolitical tensions, is leading investors toward safe-haven assets, further boosting the U.S. dollar
📉 Trade Setup – Bearish Scenario
🔽 SELL IF IT BREAKS BELOW 1.0450
🎯 Target Profit (TP): 1.0400
🛑 Stop Loss (SL): 1.0470
💡 Confirmation: Look for a strong bearish candle closing below 1.0450 with increasing selling volume before entering the trade.
💬 What’s Your Take on EURUSD?
Do you think EURUSD will break down further or bounce back up? Drop your thoughts below!🔥