R.Linda Trading - forecast

EURUSD → Weak fundamental background and trend change

FOREX forecast
💡 Ideas For EURUSD 🇪🇺🇺🇸

📈 EURUSD → Weak fundamental background and trend change


EURUSD is testing the local channel support. The probability of a breakout attempt is quite high, as the currency pair is trading on a negative fundamental background
The dollar is strengthening after a wave of positive news, at the same time EURUSD is hitting a strong resistance at 1.0949 on D1. A bearish candlestick is being formed with the session closing at the low point. Based on the candlestick pattern on Thursday, we can assume that the negative fundamental background is favorable for further decline, and the market is not finished moving yet. Consolidation below 1.08975 and breakout of 1.0880 will form a potential for further fall.

The zones of 1.07958 and 1.0724 could become a target

Support levels: 1.0880

Resistance levels: 1.08975

I expect a retest of resistance followed by a breakout of support. The market is trying to change the local trend and with a high probability it can do it