EURUSD - The Buy Pressure

17 сент.

EUR/USD continues its upward trend, reaching a two-week high amid growing expectations of a 50 basis point rate cut by the Federal Reserve. This narrows the interest rate gap with the ECB, which ruled out further cuts for October.

Generally, the direction is uptrending.

Uptrend Side: The EUR/USD reversed from its breakout, rising and stabilizing above 1.1140. As long as the price remains above this level, it will attempt to reach 1.1179. A move above 1.1179 will lead to consolidation between this level and the resistance at 1.1241.

Correction: currently the price is trading in the down correction

Downtrend Side: If the price faces negative pressure and closes the 4H candle below 1.1140, it will try to touch 1.1080. A breaking under this level by a 1D candle will start the bearish step.

Tendency Keys: 1.1140

17 сент.

Сделка активна

The price has closed the 6H below 1.1140, indicating that any further attempts will likely target the next support level at 1.1080.

18 сент.

Сделка активна

It appears that the price is ending its corrective decline and is attempting to stabilize above 1.1140 once again to follow the uptrend side.

19 сент.

Сделка закрыта: достигнута тейк-профит цена

After significant movement between the 1.1080 and 1.1140 levels, the price successfully broke through 1.1140 and advanced towards our target at 1.1179. Upon reaching 1.1179, the price began to decline, initiating a correction. In my view, once this correction concludes, the price will likely continue rising to stabilize above 1.1179 and reach 1.1241.