EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD rejected at trendline and 50 SMA near $1.134
- Bearish RSI structure favors downside continuation
- A break below $1.134 could trigger a move toward $1.126
The EUR/USD pair is struggling to reclaim ground above its descending trendline, trading just below the 50-period Simple Moving Average (SMA) at $1.13530.
Friday's candles printed a rejection wick near the $1.13423 resistance—right where the SMA intersects the trendline—underscoring a strong technical ceiling for now.
Price action remains capped within a bearish channel that’s been intact since the $1.14500 rejection in April.
From a structural view, the pair is forming lower highs and lower lows, preserving bearish momentum. A cluster of indecisive candles, including a spinning top and weak bullish attempt, adds weight to short bias near resistance.
The RSI sits at 46.97, slightly below neutral, with its average at 40.77—indicating a slight bearish lean but no oversold signal yet. No bullish divergence is present.
Key to the bearish outlook is the inability to sustain a close above $1.13423. A confirmed break lower from current levels could expose $1.12676 support, with further downside toward $1.12285.
However, if bulls manage a clean close above $1.13530 with strong volume, it may flip near-term sentiment and force a squeeze toward $1.13901.
EUR/USD - Trade Ideas
Entry Price – Sell Below 1.13423
Take Profit – 1.12676
Stop Loss – 1.13908
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$747/ -$485
Profit & Loss Per Mini Lot = +$74/ -$48
EUR/USD Price Analysis – May 05, 2025
Daily Price Outlook
During the early European trading session on Monday, the EUR/USD currency pair extended its modest rebound and moved closer to the 1.1360 mark.
The pair found support as the US Dollar (USD) remained under pressure due to growing market caution ahead of the upcoming Federal Reserve (Fed) policy decision and renewed speculation over potential ECB rate cuts.
EUR/USD Strengthens as ECB Rate Cut Bets Stay Intact Despite Hotter Inflation
On the EUR front, the shared currency held broadly steady on the day, but optimism around additional interest rate cuts by the European Central Bank (ECB) provided underlying support.
This came even after the latest Eurozone Harmonized Index of Consumer Prices (HICP) data for April showed inflation rising faster than expected. In the meantime, the core HICP jumped to 2.7% year-on-year, beating both forecasts of 2.5% and the prior 2.4% reading, while headline inflation climbed to 2.2%.
Despite this, traders seem more focused on the broader economic challenges facing the Eurozone, including the possible fallout from former US President Donald Trump’s protectionist stance, rather than short-term inflation pressures.
Supporting this dovish outlook, ECB Vice President Luis de Guindos commented in a recent interview that the central bank is likely to continue reducing rates, depending on the inflation trajectory.
Moreover, investor sentiment in the Eurozone improved in May, with the Sentix Investor Confidence Index rising to -8.1 from -19.5, suggesting a mild recovery in outlook despite external risks.
US Dollar Pressured by Fed Policy Uncertainty and US-China Trade Tensions
On the US front, the broad-based US dollar Index (DXY) dropped toward 99.80 and stayed weak within Friday’s range. Investors are being cautious ahead of the Federal Reserve’s policy meeting on Wednesday.
While the Fed is expected to keep interest rates steady at 4.25%-4.50%, the market is paying close attention to the statement and Fed Chair Jerome Powell’s press conference for any hints of a future policy change.
Although recent strong US jobs data and high inflation expectations may prevent the Fed from cutting rates soon, investors are also worried about the possible economic effects of former President Trump’s proposed tariffs. This adds more uncertainty to the outlook.
In addition, tensions between the US and China over trade are hurting market confidence. President Trump said some trade deals might be announced soon, but he also admitted there’s been no direct contact with Chinese President Xi Jinping. This lack of communication keeps investors concerned about potential trade disruptions.
EUR/USD – Technical Analysis
The EUR/USD pair is struggling to reclaim ground above its descending trendline, trading just below the 50-period Simple Moving Average (SMA) at $1.13530.
Friday's candles printed a rejection wick near the $1.13423 resistance—right where the SMA intersects the trendline—underscoring a strong technical ceiling for now.
Price action remains capped within a bearish channel that’s been intact since the $1.14500 rejection in April.
From a structural view, the pair is forming lower highs and lower lows, preserving bearish momentum. A cluster of indecisive candles, including a spinning top and weak bullish attempt, adds weight to short bias near resistance.
The RSI sits at 46.97, slightly below neutral, with its average at 40.77—indicating a slight bearish lean but no oversold signal yet. No bullish divergence is present.
Key to the bearish outlook is the inability to sustain a close above $1.13423. A confirmed break lower from current levels could expose $1.12676 support, with further downside toward $1.12285.
However, if bulls manage a clean close above $1.13530 with strong volume, it may flip near-term sentiment and force a squeeze toward $1.13901.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD remains in a descending channel capped by the 50-SMA.
- RSI is rebounding but hasn’t confirmed bullish reversal.
- A break below $1.13466 could resume the downtrend toward $1.12676.
EUR/USD is trading within a well-defined descending channel, attempting a mild recovery after bottoming near $1.12676. Price is currently approaching short-term resistance near $1.13466, a level that previously acted as support.
While a small bullish impulse has developed, the pair remains below the 50-SMA at $1.13694, which continues to slope downward—reinforcing bearish pressure in the medium term.
From a candlestick perspective, the pair has not yet shown convincing bullish formations like three white soldiers, and the latest candles resemble neutral bodies rather than strong directional signals.
The RSI has turned up from oversold levels and now sits at 44.84, reflecting short-term recovery momentum. However, unless the pair clears the upper boundary of the bearish channel and sustains above the $1.13466 zone, the upside is likely to remain capped.
The broader structure still favors a continuation to the downside, especially if price fails at the current resistance and prints a bearish engulfing or another reversal signal near the 50-SMA.
A break below $1.13466 could reactivate bearish momentum toward $1.12676 and potentially $1.12285. On the flip side, a confirmed push above $1.13901 would challenge this outlook and suggest short-term trend reversal.
EUR/USD - Trade Ideas
Entry Price – Sell Below 1.13466
Take Profit – 1.12676
Stop Loss – 1.13893
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$790/ -$427
Profit & Loss Per Mini Lot = +$79/ -$42
EUR/USD Price Analysis – May 02, 2025
Daily Price Outlook
During Friday’s European session, the EUR/USD pair continued to hold steady near the 1.1320 mark, supported by a weakening US Dollar amid rising expectations of a Fed rate cut and renewed trade optimism. The euro remains firm as upbeat Eurozone inflation data adds to the currency's appeal, even as the broader economic outlook remains cautious.
EUR/USD Supported by Weak USD and Easing Trade Tensions
The EUR/USD strength is largely attributed to a broad decline in the US Dollar, which is under pressure despite signs of easing trade tensions between the US and China.
Market sentiment improved after the Chinese Commerce Ministry signaled openness to resuming trade talks with Washington, urging the US to demonstrate sincerity.
Meanwhile, US President Donald Trump also expressed optimism about potential trade agreements with South Korea, Japan, and India, boosting global risk appetite.
Although easing trade tensions typically support the USD by improving consumer confidence and reducing inflationary risks, caution ahead of the US Nonfarm Payrolls (NFP) report kept the greenback under pressure.
Economists expect the US economy to add only 130K jobs in April, well below the previous reading of 228K. The Unemployment Rate is expected to hold at 4.2%, while wage growth is projected to rise 0.3% monthly and 3.9% annually.
Euro Gains on Hotter-Than-Expected Eurozone Inflation Data
Moreover, the pair was further boosted by stronger-than-expected preliminary inflation figures from the Eurozone. According to Eurostat, the core Harmonized Index of Consumer Prices (HICP) rose by 2.7% year-on-year in April, beating the forecast of 2.5%. The headline HICP also surprised to the upside, increasing 2.2% annually. On a monthly basis, core and headline HICP jumped by 1.0% and 0.6%, respectively, indicating persistent price pressures in the bloc.
Despite the inflation surprise, the European Central Bank (ECB) is still expected to proceed with a 25 basis point rate cut in June. Policymakers remain more concerned about the economic impact of new US tariffs than inflation itself. Earlier this week, ECB’s Olli Rehn stressed the need for policy expansion and did not rule out cutting rates below the neutral level if necessary, highlighting downside risks to inflation.
EUR/USD Outlook Hinges on NFP and Central Bank Policy Expectations
Looking ahead, the EUR/USD pair’s direction will be influenced by the outcome of the US NFP report and evolving market expectations for both the Fed and ECB.
According to the CME FedWatch tool, there’s now a 58.6% probability that the Fed will lower rates in June, following a steady policy in May.
With Eurozone inflation running hotter but growth still vulnerable, any soft US data could further pressure the USD and provide near-term support to EUR/USD around the 1.1300 level.
EUR/USD – Technical Analysis
EUR/USD is trading within a well-defined descending channel, attempting a mild recovery after bottoming near $1.12676. Price is currently approaching short-term resistance near $1.13466, a level that previously acted as support.
While a small bullish impulse has developed, the pair remains below the 50-SMA at $1.13694, which continues to slope downward—reinforcing bearish pressure in the medium term.
From a candlestick perspective, the pair has not yet shown convincing bullish formations like three white soldiers, and the latest candles resemble neutral bodies rather than strong directional signals.
The RSI has turned up from oversold levels and now sits at 44.84, reflecting short-term recovery momentum. However, unless the pair clears the upper boundary of the bearish channel and sustains above the $1.13466 zone, the upside is likely to remain capped.
The broader structure still favors a continuation to the downside, especially if price fails at the current resistance and prints a bearish engulfing or another reversal signal near the 50-SMA.
A break below $1.13466 could reactivate bearish momentum toward $1.12676 and potentially $1.12285. On the flip side, a confirmed push above $1.13901 would challenge this outlook and suggest short-term trend reversal.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD trades above rising trendline with higher lows structure intact.
- RSI and price action suggest potential upside, pending confirmation.
- Breakout above $1.13836 could trigger bullish continuation.
EUR/USD is trading within a tightening ascending structure, supported by a rising trendline from the April 23 low. The pair recently rebounded from $1.13618, just above the trendline and the proposed entry point at $1.13621, hinting at a potential bullish continuation.
Price remains close to the 50-period SMA ($1.13836), which is currently acting as dynamic resistance. If this level is cleared, the next target is $1.14098, followed by stronger resistance near $1.14248.
Candlestick behavior reveals indecision, with recent spinning tops and small-bodied candles near the support zone.
However, there’s no strong reversal pattern yet—no bullish engulfing or three white soldiers—but the higher lows remain intact, keeping the bullish structure technically alive.
The RSI (14) is printing 46.88, slightly below neutral but curling upward, suggesting early bullish momentum. If RSI crosses above 50 and price clears the SMA, it would further confirm bullish intent.
A failure to hold the trendline near $1.13365 would invalidate this setup, potentially exposing the pair to a drop toward $1.13077.
For now, the setup favors a cautious long with tight risk control, watching the ascending trendline as a key inflection point. A breakout above $1.14098 may open up space for a run toward $1.14508.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.13621
Take Profit – 1.14098
Stop Loss – 1.13365
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$477/ -$256
Profit & Loss Per Mini Lot = +$47/ -$25
EUR/USD Price Analysis – April 30, 2025
Daily Price Outlook
During the European trading session, the EUR/USD pair continued to fall and reached close to the 1.1355 level. This decline was mainly due to the renewed strength of the US Dollar, which gained momentum ahead of important US economic data expected later in the North American session.
Investors are being cautious as they wait for key reports like the first-quarter GDP, the ADP Employment Change, and the March PCE Price Index. At the same time, the US Dollar Index (DXY) moved up slightly to around 99.35, showing growing demand for the dollar as markets prepare for these high-impact data releases.
EUR/USD Weighed by Firm USD and Cautious Fed Outlook Ahead of Key US Data
However, the pressure on the EUR/USD pair increased as investors sought the safe-haven US Dollar, expecting slower US economic growth and easing inflation. The US economy is expected to have grown just 0.4% in Q1, a sharp decline from the previous 2.4% growth.
Data on the labor market and inflation is also likely to show less economic momentum, which could affect future decisions by the Federal Reserve. Despite the weaker outlook, the dollar remains strong as markets wait for today’s data to confirm the slowdown.
Rising US-China Trade Tensions Keep Markets on Edge and Support the Greenback
Apart from the economic data, rising geopolitical tensions are also affecting market sentiment. US Treasury Secretary Scott Bessent emphasized a tough stance from the US, stating that it is up to China to ease trade tensions. His comments came after China imposed retaliatory tariffs of 125% on US goods in response to the US's 145% tariffs.
Although China temporarily removed tariffs on some US imports, analysts believe this is more out of necessity than a genuine effort to reduce tensions. This ongoing trade conflict is keeping risk appetite low and supporting the strength of the US Dollar.
EUR/USD Weakens on Eurozone Inflation Concerns and ECB Rate Cut Expectations
On the European front, the Euro also came under pressure due to disappointing inflation data across major Eurozone economies. Preliminary April CPI figures from six German states and France showed slowing price growth, while inflation in Italy and Spain remained stable.
Although French CPI slightly beat estimates at 0.8%, it was still below March’s 0.9%. Therefore, the overall picture of subdued inflation has heightened expectations for a 25 basis point rate cut by the European Central Bank (ECB) in its June policy meeting.
Despite the dismal inflation outlook, the Eurozone economy showed some resilience in Q1. Preliminary GDP data released on Wednesday beat expectations, with the region expanding by 0.4% quarter-on-quarter—double the growth seen in the previous quarter.
While this provided some temporary relief for the Euro, concerns around inflation, interest rates, and global trade continue to overshadow the broader economic narrative, keeping the EUR/USD pair under pressure in the near term.
EUR/USD – Technical Analysis
EUR/USD is trading within a tightening ascending structure, supported by a rising trendline from the April 23 low. The pair recently rebounded from $1.13618, just above the trendline and the proposed entry point at $1.13621, hinting at a potential bullish continuation.
Price remains close to the 50-period SMA ($1.13836), which is currently acting as dynamic resistance. If this level is cleared, the next target is $1.14098, followed by stronger resistance near $1.14248.
Candlestick behavior reveals indecision, with recent spinning tops and small-bodied candles near the support zone.
However, there’s no strong reversal pattern yet—no bullish engulfing or three white soldiers—but the higher lows remain intact, keeping the bullish structure technically alive.
The RSI (14) is printing 46.88, slightly below neutral but curling upward, suggesting early bullish momentum. If RSI crosses above 50 and price clears the SMA, it would further confirm bullish intent.
A failure to hold the trendline near $1.13365 would invalidate this setup, potentially exposing the pair to a drop toward $1.13077.
For now, the setup favors a cautious long with tight risk control, watching the ascending trendline as a key inflection point. A breakout above $1.14098 may open up space for a run toward $1.14508.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD reclaims 50-EMA at $1.1362, supported by bullish engulfing candlesticks.
- RSI trends above 50, signaling a mild bullish bias without overbought conditions.
- Break above $1.1406 critical to extend rally toward $1.1442.
The EUR/USD pair is attempting a recovery after defending support at $1.1331. Prices are now pushing against the $1.1362 pivot zone, aided by a modest bullish crossover where the price reclaims the 50-EMA ($1.1362).
A clean hourly close above this level opens the path toward $1.1406, with bulls eyeing the higher range.
Candlestick behavior reveals a series of small-bodied candles followed by a bullish engulfing pattern near the pivot, suggesting strengthening momentum.
The RSI reading at 55.98, slightly above the neutral 50 level, indicates a growing bullish bias without being overbought, offering room for further upside.
There is no visible bearish divergence at this stage, reinforcing the upward momentum. Higher lows from the $1.1316 region further validate the emerging bullish structure.
However, $1.1406 remains a key resistance that needs a decisive break for continuation; failure here could trigger profit-taking.
In a broader context, the pattern resembles an ascending triangle, typically a bullish formation, and a break above the horizontal barrier could spark a measured move towards $1.1442.
Traders should monitor for three white soldiers formation or successive bullish candles confirming the breakout strength.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.13625
Take Profit – 1.14061
Stop Loss – 1.13311
Risk to Reward – 1: 1.3
Profit & Loss Per Standard Lot = +$436/ -$314
Profit & Loss Per Mini Lot = +$43/ -$31
EUR/USD Price Analysis – April 28, 2025
Daily Price Outlook
During early European trading hours on Monday, the EUR/USD currency pair showed a modest dip, trading near the 1.1350 level.
The pair's decline was primarily driven by the underperformance of the Euro (EUR), as investors await critical economic data from the Eurozone this week, including the Harmonized Index of Consumer Prices (HICP) for April and the Q1 GDP figures.
Therefore, the results of these reports are expected to significantly influence the European Central Bank’s (ECB) monetary policy outlook.
EUR/USD Weakness Fueled by Eurozone Economic Data Expectations
On the EUR front, the shared currency has weakened due to expectations around upcoming economic data from the Eurozone.
Analysts predict that the Eurozone's headline HICP inflation will return to the European Central Bank's (ECB) 2% target, marking the slowest price growth since October 2024. This follows a 2.2% increase in March.
Moreover, GDP growth is expected to remain steady at 0.2% quarter-on-quarter for the first quarter of the year.
While moderate inflation and steady growth could suggest a more dovish stance from the ECB, traders are closely watching these figures, as they may increase expectations for an ECB rate cut in June.
In fact, some ECB policymakers are already expressing growing confidence in reducing rates as inflation eases.
However, there is still caution because of risks from global trade tensions, especially between the US and the Eurozone.
ECB policymaker Klaas Knot mentioned that while inflation is expected to decrease, the situation is complicated. US trade tariffs could reduce demand and cause prices to rise more slowly.
Impact of US Dollar Strength on GBP/USD Amid Economic Data and Trade Uncertainty
On the other hand, the US Dollar has managed to hold its ground amid mixed developments in global trade relations.
Despite mixed messages from Washington and Beijing, the Dollar remains strong because of overall market confidence. Investors are cautious, but the Dollar still gets support from the broader market outlook.
Moving ahead, the upcoming US economic data, particularly the Nonfarm Payrolls (NFP) report scheduled for later this week, is expected to be a major catalyst for the US Dollar.
Traders are closely watching the labor market figures, which could influence expectations for Federal Reserve policy moves. Despite the uncertainty in global trade relations, the US economy remains relatively resilient, further supporting the USD’s strength.
Therefore, the US Dollar's strength, supported by positive economic data and market confidence, could pressure the GBP/USD pair, potentially pushing the Pound lower as traders adjust to stronger USD expectations.
EUR/USD – Technical Analysis
The EUR/USD pair is attempting a recovery after defending support at $1.1331. Prices are now pushing against the $1.1362 pivot zone, aided by a modest bullish crossover where the price reclaims the 50-EMA ($1.1362).
A clean hourly close above this level opens the path toward $1.1406, with bulls eyeing the higher range.
Candlestick behavior reveals a series of small-bodied candles followed by a bullish engulfing pattern near the pivot, suggesting strengthening momentum.
The RSI reading at 55.98, slightly above the neutral 50 level, indicates a growing bullish bias without being overbought, offering room for further upside.
There is no visible bearish divergence at this stage, reinforcing the upward momentum. Higher lows from the $1.1316 region further validate the emerging bullish structure.
However, $1.1406 remains a key resistance that needs a decisive break for continuation; failure here could trigger profit-taking.
In a broader context, the pattern resembles an ascending triangle, typically a bullish formation, and a break above the horizontal barrier could spark a measured move towards $1.1442.
Traders should monitor for three white soldiers formation or successive bullish candles confirming the breakout strength.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Bullish harmonic pattern completes near $1.13085 with wedge support.
- RSI climbing from oversold; price nearing 50 EMA.
- Confirmation above $1.13092 opens path to $1.13588 and $1.13962.
The EUR/USD is currently testing the lower boundary of a descending wedge, reinforced by a bullish harmonic pattern (likely a bullish Gartley) forming at point D near $1.13085.
Price action has been contained within the wedge since April 19, and recent support at $1.1309 marks a potential reversal zone. A bullish bias emerges if the pair breaks decisively above $1.13092.
Candle structure supports this view, with buyers repeatedly defending the 1.1300 zone. A clean break above the wedge resistance could push prices toward the 50-hour SMA at $1.13596, followed by the next key level at $1.13962.
The 50 SMA continues to slope downward but is flattening—an early sign of potential crossover reversal if bullish momentum accelerates.
The Relative Strength Index (RSI) is printing 39.03, rising from oversold territory. While no bullish divergence is confirmed yet, the oscillator’s uptick indicates waning bearish momentum. Additionally, the recent hammer and spinning top near support add to bullish reversal cues.
A failure to hold above $1.13085 may invalidate the bullish setup, exposing the pair to deeper losses toward $1.12788 and ultimately $1.12666.
However, the harmonic completion and wedge compression suggest an imminent volatility breakout, favoring bullish scenarios if volume confirms.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.13092
Take Profit – 1.13588
Stop Loss – 1.12788
Risk to Reward – 1: 1.6
Profit & Loss Per Standard Lot = +$496/ -$304
Profit & Loss Per Mini Lot = +$49/ -$30
EUR/USD Price Analysis – April 25, 2025
Daily Price Outlook
During the European trading session, the EUR/USD currency pair traded lower near 1.1350 as the US Dollar (USD) gained strength. This was due to increasing optimism about possible improvements in US-China trade relations.
Moreover, the Euro's weakness was also driven by concerns about the European Central Bank's (ECB) monetary policy, with growing speculation that the ECB might cut interest rates soon.
US Dollar Strengthened by Optimism Over US-China Trade Talks
On the US front, the US Dollar Index (DXY), which measures the Greenback's value against six major currencies, rebounded from a previous correction near 99.20 and surged back towards 99.65, eyeing the weekly high of around 100.00.
This recovery was driven by optimism in the financial markets that the trade war between the US and China may de-escalate.
Bloomberg reported that China is considering suspending the 125% tariff on US medical equipment and industrial chemicals. US President Donald Trump echoed this sentiment, stating that trade talks with Beijing were progressing positively, and expressing hope that a deal could be reached soon.
Despite these signs of progress, China denied that any significant economic and trade negotiations were taking place. A Chinese spokesperson clarified that the US would need to completely cancel all unilateral tariffs if trade talks were to continue.
These mixed signals from both countries have added to the market’s uncertainty, yet the initial optimism over potential trade de-escalation continues to support the US Dollar’s strength.
Euro Under Pressure Amid ECB Concerns on Inflation and Economic Outlook
On the Eurozone front, the Euro came under pressure as concerns about the ECB’s monetary policy outlook mounted. ECB policymakers have expressed increasing worry about the region’s economic prospects, particularly the risk of inflation undershooting the central bank’s 2% target.
Finnish central bank governor Olli Rehn highlighted these concerns, stating that inflation projections could remain below target in the medium term and suggesting that current circumstances might justify an interest rate cut in June.
Looking ahead, the future direction of EUR/USD will likely be influenced by developments in both US-China trade relations and the ECB’s monetary policy stance.
While the US Dollar could continue to gain strength on optimism surrounding trade talks, concerns about inflation and economic growth in the Eurozone are likely to weigh on the Euro.
EUR/USD – Technical Analysis
The EUR/USD is currently testing the lower boundary of a descending wedge, reinforced by a bullish harmonic pattern (likely a bullish Gartley) forming at point D near $1.13085.
Price action has been contained within the wedge since April 19, and recent support at $1.1309 marks a potential reversal zone. A bullish bias emerges if the pair breaks decisively above $1.13092.
Candle structure supports this view, with buyers repeatedly defending the 1.1300 zone. A clean break above the wedge resistance could push prices toward the 50-hour SMA at $1.13596, followed by the next key level at $1.13962.
The 50 SMA continues to slope downward but is flattening—an early sign of potential crossover reversal if bullish momentum accelerates.
The Relative Strength Index (RSI) is printing 39.03, rising from oversold territory. While no bullish divergence is confirmed yet, the oscillator’s uptick indicates waning bearish momentum. Additionally, the recent hammer and spinning top near support add to bullish reversal cues.
A failure to hold above $1.13085 may invalidate the bullish setup, exposing the pair to deeper losses toward $1.12788 and ultimately $1.12666.
However, the harmonic completion and wedge compression suggest an imminent volatility breakout, favoring bullish scenarios if volume confirms.
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