If you examine the half-hour chart of the EURUSD currency pair, two technical levels below the current price are clearly visible: 1.1150 and 1.1125. Both levels were established during the sell-off on May 12 and the subsequent rebound to 1.1250. This represents a classic scenario where one corrective movement is contained within another. These levels now serve as the nearest downside targets for EURUSD, with 1.1150 being the most probable, given its proximity to the current price.
The current narrowing of price fluctuations reflects a calm fundamental backdrop. Of course, a significant news event could emerge at any moment, reigniting high volatility. However, until this occurs, the market is likely to oscillate between technical levels, systematically retesting previously established support and resistance within the 1.1050–1.1250 range.
No major economic calendar events are expected in the remaining two trading days of the week, though unpredictable statements from the US administration could trigger volatility.
Additionally, broader market sentiment hints at potential EURUSD weakness. US equity indices are poised for a technical correction downward, which has indirectly strengthened the US dollar, further supporting the case for a decline in EURUSD.
The overall recommendation is to sell EURUSD.
Profits should be taken at the level of 1.1150. A Stop loss could be set at the level of 1.1230.
The volume of the opened position should be set in such a way that the value of a possible loss, fixed with the help of a protective Stop loss order, is no more than 1% of your deposit funds.
This content is for informational purposes only and is not intended to be investing advice.
