EURUSD: Sellers Stay in Control
EURUSD maintains a bearish structure on the H1 timeframe, consistently forming lower highs and trading below both the downtrend line and the Ichimoku cloud. The recent rebound has only brought the price close to the 1.1417 resistance zone—an area that has previously seen strong selling pressure—indicating that sellers remain in control of the short-term trend.
Fundamentally, the USD continues to be supported by expectations that the Fed will keep interest rates higher for longer, while the market remains cautious ahead of the ECB meeting. This divergence in monetary policy expectations is weighing on EURUSD, causing rebounds to be corrective rather than indicative of a trend reversal.
The preferred scenario is to wait for the price to rally toward the 1.1417 zone and show a clear rejection signal before the downtrend resumes. If sellers successfully defend this area, EURUSD could retest the 1.1388 support zone, which serves as the immediate downside target.
Strategy: Prioritize SELL positions upon rejection at the 1.1417 zone, targeting 1.1388. The bearish scenario would be invalidated if the price closes firmly above 1.1417 on the H1 chart.
source https://www.tradingview.com/chart/EURUSD/SuMI2BEc-EURUSD-Sellers-Stay-in-Control/
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