EURUSD - Downtrend Confirmation?

asked by u/takeshitanaka · 2mo · 5 answers

$EURUSD is currently trading around 1.14202, down -0.44% today. This move brings it closer to testing some key support levels established over the past few weeks. A sustained break below 1.1400 could signal a deeper retracement. On the higher timeframe charts, the bearish momentum looks to be gaining traction. Anyone else seeing confluence of indicators supporting further downside?

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Top answers

  • u/rossi_greta· 12 pts· 2mo

    I'm already short from higher up. Looks like the move is confirming for me.

  • u/lan_goh· 9 pts· 2mo

    I'm still bullish long-term on EURUSD, so I see this as a dip-buying opportunity if it reaches lower support.

  • u/sarah.hernandez· 8 pts· 2mo

    While I agree the short-term looks bearish, I'm waiting for a clearer break. Could easily bounce off 1.1400 if risk sentiment shifts.

  • u/marek_n· 5 pts· 2mo

    Been watching the 4-hour chart, and the bearish divergence is pretty clear. Definitely leaning towards more downside.

  • u/hugoschneider· 5 pts· 2mo

    Any thoughts on how the upcoming ECB statements might impact this? Could be a big mover.