Since late September, a characteristic bearish accumulation pattern has been developing on the 15-minute (M15) chart for EURUSD, pointing to its further downward breakout. The 1.17150 support has been tested at least five times, with each subsequent rebound ultimately returning to this level. This repeated action suggests that the threshold will likely weaken and eventually be broken. Fundamentally, the bearish bias is reinforced by the Federal Reserve's (Fed) cautious stance on future monetary easing. The Supreme Court's ruling permitting regulatory member Lisa Cook to continue serving underscores the institution's autonomy from the Donald Trump administration, a factor that strengthens the greenback and weighs on EURUSD. On top of that, a potential delay of September's jobs report due to a US government shutdown grants the Fed even greater flexibility. Right now, the central bank is showing no signs of loosening up on policy anytime soon, which is putting more and more pressure on the pair.
The ultimate recommendation is to sell EURUSD at 1.17150. Profits are taken at 1.16970. Stop loss is placed at 1.17300.
The volume of your open position should be calculated so that the potential loss (protected by a Stop Loss order) does not exceed 1% of your deposit. If your account balance does not allow opening a position of this size, it is better to avoid entering the market on this signal and wait for other trade options that meet low-risk criteria.
This content is for informational purposes only and is not intended to be investing advice.
