FX.co ★ Noahh | EUR/USD

EURUSD Trend Outlook: The present discussion pertains to analyzing the price behavior of the EUR/ USD currency pair. My strategy involves observing key levels and making intra-predictions based on them. I also consider how the price approaches these levels during the U.S. session. I become cautious if I notice anything unusual—such as the price testing a level without any apparent weakness or fundamental support. When the price stalls at a level without breaking through, and it seems to be awaiting fundamental news, I often decide to pause my trades. However, I usually lean towards selling, primarily due to lower commissions, and I hold positions for several weeks. Overall, my approach is a blend of different factors. Next week, I believe it's worth considering sales from the 1.16257-1.16277 range. The pair might open with some growth, but the volumes do not yet indicate a continuation of this upward movement, so reversing the bearish direction is possible. I'll base my decisions on how the price behaves. The D1 chart has a clear ascending equidistant channel with two intense resistance levels above it: 1.17159 and 1.18559.

On the H1 chart, EUR/USD buyers maintain the price within the upward momentum from the low of 1.14567. Currently, the primary resistance for EUR/USD is at the second impulse zone level of 1.16117. The first attempt to break this level was unsuccessful. If it's broken on Monday, the bulls will likely solidify their position, pushing the price toward the next resistance level at 1.16337, from which the euro might turn bearish again. However, if the resistance at 1.16117 holds, the EUR/USD price could reverse and start a decline, retesting the levels of the first impulse zone at 1.15747 and 1.15527.