EURUSD Next possible move

3 Ara

EURUSD
Title
"EUR/USD Intraday Analysis: Bearish Pressure Resumes | Post-NFP Decline"

Market Context
"EUR/USD faces selling pressure today, reversing gains from last week. The pair has broken below key intraday support levels, driven by a stronger USD following Friday's NFP report. The dollar gains traction as the market leans towards a more hawkish Fed outlook."

Technical Analysis
*"Today’s sell momentum is confirmed by multiple bearish signals:

Price Action: The pair broke below the 1.0520 intraday support, creating lower highs and lower lows on the H1 chart.
EMA Bearish Crossover: Price is trading below the 20 and 50 EMAs, signaling potential further downside.
RSI: Dropped below 45, indicating increasing bearish momentum.
MACD: Negative histogram bars have expanded, confirming downward pressure.
Key Levels:

Support: 1.0500 (critical), 1.0475 (next potential target).
Resistance: 1.0535 (intraday), 1.0555 (major). A move above 1.0555 would invalidate the bearish setup."*
News Context
"Upcoming: Market awaits U.S. ISM Services PMI later today, which could further support the dollar if results exceed expectations.
Previous: NFP data on Friday indicated a resilient U.S. labor market, bolstering Fed rate hike speculation."

Call to Action
"Do you expect EUR/USD to test lower support levels, or is this sell-off a temporary correction? Share your views in the comments!"