FX pair saw move to the downside, closing below 1.16000.
price zone.
Economic Calendar Analysis
No major fundamental news should create significant impact to volatility levels.
EUR/USD hourly chart analysis
A recent bullish recovery is confronting a major resistance zone after a significant prior downtrend. The price has reversed strongly from its lows around 1.1400, successfully climbing above its 50 and 100-period moving averages, which is a clear signal of a short-term trend change.This upward rally has now paused at a formidable barrier created by the horizontal resistance level at 1.1575 and the powerful 200-period moving average just above it. The market is at a critical decision point; if the price is rejected from this zone, sellers will likely regain control. However, a sustained breakout above the 200-period moving average would serve as a strong confirmation that the bullish recovery has more strength to continue.
Hourly Chart
EUR/USD daily chart's review
A strong, established uptrend that is currently undergoing a significant correction. After reaching a high near 1.1830, the price pulled back sharply, breaking below its 50-day moving average. This corrective move found crucial support at the longer-term 100-day moving average around the 1.1370 level, where buyers stepped in aggressively to form a bullish reversal candlestick.Following this bounce from major support, the price is now attempting to reclaim the 50-day moving average from below. This is a critical test for the market. If buyers can push the price back above this level, it would suggest the correction is over and the primary uptrend is likely to resume.
Daily chart
Read More: Technical Analysis
Traders sentiment is bearish
Continuing the trend from previous weeks, EUR/USD maintains its bearish sentiment, driven by a mix of macroeconomic headwinds and evolving market expectations.