1.EUR/USD Update
EUR/USD trades cautiously around the 1.1650 area during Monday's European session. The pair remains under mild selling pressure as the US Dollar gains strength amid uncertainty surrounding the US-Iran ceasefire negotiations and escalating tensions between Israel and Lebanon.
On the other hand, the Euro continues to find support from hawkish comments made by European Central Bank (ECB) policymakers, who have signaled the possibility of an interest rate hike in June. This has helped limit the downside potential for EUR/USD.
2.Technical Analysis
After finding support near 1.1578, the pair has staged a modest recovery. However, the rebound remains weak and continues to face resistance below the 1.1660 level.
Recent price action suggests that the market is consolidating within a narrow range. Such conditions often indicate that traders are waiting for a fresh catalyst before committing to the next directional move.
If EUR/USD fails to close a H4 candle above the 1.1660–1.1680 resistance zone, sellers may regain control, with the first downside target at 1.1625, followed by 1.1585.
Conversely, a clear H4 close above 1.1680 would confirm a bullish breakout. In that scenario, the next upside targets would be 1.1720 and potentially 1.1785.
Wish you a successful trading day
EUR/USD trades cautiously around the 1.1650 area during Monday's European session. The pair remains under mild selling pressure as the US Dollar gains strength amid uncertainty surrounding the US-Iran ceasefire negotiations and escalating tensions between Israel and Lebanon.
On the other hand, the Euro continues to find support from hawkish comments made by European Central Bank (ECB) policymakers, who have signaled the possibility of an interest rate hike in June. This has helped limit the downside potential for EUR/USD.
2.Technical Analysis
After finding support near 1.1578, the pair has staged a modest recovery. However, the rebound remains weak and continues to face resistance below the 1.1660 level.
Recent price action suggests that the market is consolidating within a narrow range. Such conditions often indicate that traders are waiting for a fresh catalyst before committing to the next directional move.
If EUR/USD fails to close a H4 candle above the 1.1660–1.1680 resistance zone, sellers may regain control, with the first downside target at 1.1625, followed by 1.1585.
Conversely, a clear H4 close above 1.1680 would confirm a bullish breakout. In that scenario, the next upside targets would be 1.1720 and potentially 1.1785.
Wish you a successful trading day
Trade active
The plan is still on track Trade closed: target reached
Complete the original plan 
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.