Summary
- Current Price: Closed at 1.1337, down slightly from the previous close of 1.1388.
- Intraday Range: High at 1.1346, Low at 1.1284, suggesting consolidation below major resistance.
- Resistance Levels:
- 1.1385 – Immediate resistance; a break above may target
- 1.1460 – Intermediate resistance
- 1.1500 – Psychological barrier and multi-month high
- Support Levels:
- 1.1290 – First line of defense; a break below may target
- 1.1200 – Key swing level
- 1.1130 – Broader trend support
- Trend Bias: The pair maintains an upward trajectory, but momentum has slowed near resistance.
Fundamental Drivers
- U.S. Dollar Factors:
- Markets are on hold ahead of the FOMC minutes, which could hint at the Fed's rate path amid cooling inflation and stable labor data.
- Recent tariffs introduced by the U.S. have added uncertainty, potentially dampening demand for the dollar.
- Eurozone Outlook:
- While recent data has been mixed, the euro has found support from improving PMI figures and hawkish tones from some ECB members advocating caution on rate cuts.
Short-Term Outlook
The EURUSD pair is consolidating just below resistance and awaiting fresh catalysts.
- A break above 1.1385 could confirm continued bullish momentum toward 1.1460–1.1500.
- A drop below 1.1290 would shift focus back to 1.1200, possibly inviting further downside.
Fundamentals to Watch:
- FOMC minutes and U.S. macro data (PCE, labor figures)
- ECB commentary and eurozone inflation trends
- Trade tensions or tariff-related headlines
EURUSD – H3 Timeframe
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The price action on the 3-hour timeframe of EURUSD shows a recent break above the previous high, with the price slipping lower toward the demand zone at the origin of the bullish momentum. The point of interest enjoys confluence from the 50 and 100-period moving averages and trendline support.
Analyst's Expectations:
Direction: Bullish
Target- 1.14636
Invalidation- 1.13348
CONCLUSION
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