EURUSD at Key Resistance | Fed Warsh Boosts DollarHey Traders,
In today’s trading session, we are monitoring EURUSD for a selling opportunity around the 1.18500 zone.
EURUSD remains in a clear downtrend and is currently undergoing a corrective pullback, with price approaching the descending trendline and the 1.18500 key support–resistance zone. This area could act as a strong technical rejection zone in line with the broader bearish structure.
Fundamentally, the recent nomination of Kevin Warsh as the new Fed Chair is supporting a stronger US dollar bias in the short term. Warsh is widely viewed as a more hawkish and fiscally disciplined choice, which may reinforce expectations of tighter monetary conditions — adding further pressure on EURUSD to the downside.
As always, wait for price action confirmation at the zone before execution and manage risk accordingly.
Trade safe,
Joe
