Hey Traders, in today’s trading session we are monitoring EURUSD for a potential buying opportunity around the 1.16100 zone. The pair remains in a broader uptrend and is currently in a correction phase, approaching a strong daily support area at 1.16100 that aligns with the ascending trendline.
Structure: The market has been maintaining higher highs and higher lows, with the current retracement offering a potential continuation setup within the bullish structure.
Key level in focus: 1.16100 — a critical zone of confluence between daily support and trend structure, where buyers have previously shown strong interest.
Fundamentals: The US Dollar Index (DXY) is nearing the 98.800 daily resistance while facing headwinds from the ongoing US government shutdown. Extended fiscal uncertainty and a weakening DXY backdrop strengthen the bullish case for EURUSD.
Next move: Watching price reaction at 1.16100 for potential bullish continuation — sustained buying pressure here could pave the way for a move toward recent highs.
Trade safe,
Joe.
Structure: The market has been maintaining higher highs and higher lows, with the current retracement offering a potential continuation setup within the bullish structure.
Key level in focus: 1.16100 — a critical zone of confluence between daily support and trend structure, where buyers have previously shown strong interest.
Fundamentals: The US Dollar Index (DXY) is nearing the 98.800 daily resistance while facing headwinds from the ongoing US government shutdown. Extended fiscal uncertainty and a weakening DXY backdrop strengthen the bullish case for EURUSD.
Next move: Watching price reaction at 1.16100 for potential bullish continuation — sustained buying pressure here could pave the way for a move toward recent highs.
Trade safe,
Joe.
Trade active
Price is testing support now, let's see how it goes!
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Free Telegram Group:
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
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.