EURUSD NEXT POSSIBLE MOVE

20 jam lalu

EURUSD
As of January 17, 2025, the EUR/USD pair is exhibiting bearish tendencies, suggesting potential selling opportunities.

**Market Pulse**
The Euro continues to face downward pressure against the US Dollar, influenced by strong US economic data and a hawkish stance from the Federal Reserve. Additionally, the Eurozone's economic challenges and geopolitical uncertainties contribute to the Euro's weakness.

**Key Levels**
- **Resistance:** 1.0375 (intraday), 1.0405 (key resistance zone).
- **Support:** 1.0200 (immediate support), 1.0175 (target for further decline).

**Technical Signals**
- **Trend:** Bearish momentum is evident, with a clear downward bias.
- **RSI:** Approaching oversold territory, indicating strong selling pressure.
- **MACD:** Negative momentum increasing, supporting the bearish outlook.
- **EMA:** Price is trading below the 20 and 50 EMAs, confirming the downtrend.

**Global News**
- **US Economic Data:** Robust US economic indicators continue to bolster the USD.
- **Eurozone Outlook:** Economic indicators suggest sluggish growth, adding pressure on the Euro.
- **Geopolitical Tensions:** Ongoing uncertainties contribute to market volatility, favoring safe-haven currencies like the USD.

**Market Sentiment**
- **Forex Client Sentiment:** 60% long, 40% short.
- **Myfxbook Sentiment:** 70% long, 30% short.
- **Dukascopy Sentiment:** Predominantly long positions in EUR/USD.
- **FOREX.com Sentiment:** 65% net long, 35% net short.
- **Note:** Despite the bearish technical indicators, market sentiment remains bullish, which could act as a contrarian indicator, suggesting potential for further downside.

**Your Move**
Given the current bearish momentum, consider selling opportunities near resistance levels, targeting the support zones. How do you plan to position yourself in today's market? Share your strategy!