EURUSD - Downtrend Confirmation?

asked by u/takeshitanaka · 4mo · 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/lan_goh· 6 pts· 4mo

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

  • u/rossi_greta· 5 pts· 4mo

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

  • u/hugoschneider· 4 pts· 4mo

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

  • u/korn_saetang· 1 pts· 4mo

    I'm seeing similar signs, especially with the dollar index strength. The 1.1400 level is definitely critical.

  • u/sarah.hernandez· 1 pts· 4mo

    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.

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