$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?
I'm still bullish long-term on EURUSD, so I see this as a dip-buying opportunity if it reaches lower support.
Been watching the 4-hour chart, and the bearish divergence is pretty clear. Definitely leaning towards more downside.
My models are showing a target around 1.1350 if 1.1400 breaks cleanly.
I'm seeing similar signs, especially with the dollar index strength. The 1.1400 level is definitely critical.
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.
I'm already short from higher up. Looks like the move is confirming for me.
Any thoughts on how the upcoming ECB statements might impact this? Could be a big mover.
Not so sure. Volume isn't convincing enough for a strong breakdown just yet. Could be a head-fake.