EURUSD Next possible move SAXO:EURUSD
Here’s a detailed description for today’s bearish outlook in EUR/USD:
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### **Title**
*"EUR/USD Intraday Analysis: Bearish Pressure Returns | Sellers Regain Control"*
#### **Market Context**
*"EUR/USD faces renewed selling pressure as the U.S. dollar strengthens on the back of improving risk sentiment and rising U.S. Treasury yields. Traders remain cautious ahead of key economic data releases."*
#### **Technical Analysis**
*"Today's sell momentum is backed by:
- **Trend Structure**: Formation of lower highs and lower lows confirms the downtrend.
- **EMA Dynamics**: Price has fallen below the 20 and 50 EMAs, indicating a shift to bearish momentum.
- **RSI**: Dropping below 50, signaling increasing selling pressure.
- **MACD**: Negative divergence with widening histogram bars supports the bearish outlook.
Key Levels:
- **Support**: 1.0575 (immediate target), 1.0550 (critical support).
- **Resistance**: 1.0610 (intraday), 1.0635 (key resistance). A move above 1.0635 would weaken the bearish case."*
#### **News Context**
*"Upcoming: U.S. Pending Home Sales data and Eurozone CPI are expected to provide direction later in the session.
Previous: Weak Eurozone sentiment indicators added to the pair's downside pressure yesterday."*
#### **Call to Action**
*"Will EUR/USD break below key support levels, or will buyers reemerge to defend critical zones? Share your thoughts and trade setups below!"*
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Let me know if this meets your expectations or if you need further refinements!
