Hello everyone, this week EURUSD is showing a mild rebound, concentrating around the current price level before aiming to fill the 1.1738–1.1745 gap. This upward move is mainly supported by a weakening USD and buying pressure at the lower FVG zones.
The macro backdrop slightly favours EUR against USD: the market continues to price in the possibility of the Fed entering a rate-cutting cycle in the coming months. The 10-year US Treasury yield has cooled, reducing the USD’s appeal. The prolonged US government shutdown also increases uncertainty, shifting short-term capital to other assets and providing momentum for EUR. In Europe, no new negative economic surprises have emerged, so recent EURUSD fluctuations mainly reflect USD dynamics.
EURUSD is likely to inch higher to fill the 1.1738–1.1745 gap. If the H1 candle closes above 1.1738, the probability of reaching 1.1745 is high. After filling the gap, the price could continue to test 1.1760–1.1768; breaking this level would open the path to 1.1785–1.1800.
What’s your view? Can EURUSD reach the 1.1738–1.1745 gap and push toward 1.1768 to close the gap completely?
The macro backdrop slightly favours EUR against USD: the market continues to price in the possibility of the Fed entering a rate-cutting cycle in the coming months. The 10-year US Treasury yield has cooled, reducing the USD’s appeal. The prolonged US government shutdown also increases uncertainty, shifting short-term capital to other assets and providing momentum for EUR. In Europe, no new negative economic surprises have emerged, so recent EURUSD fluctuations mainly reflect USD dynamics.
EURUSD is likely to inch higher to fill the 1.1738–1.1745 gap. If the H1 candle closes above 1.1738, the probability of reaching 1.1745 is high. After filling the gap, the price could continue to test 1.1760–1.1768; breaking this level would open the path to 1.1785–1.1800.
What’s your view? Can EURUSD reach the 1.1738–1.1745 gap and push toward 1.1768 to close the gap completely?
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