There are DM buyers in EURUSD, so it looks bearish on the H4.
I estimate that the EURUSD pair will move within the lower band range of around 1.1733-1.1774 today, with the potential for the USD to weaken amidst the news of the US shutdown.
We have some DM longies and DM shorties, so “house clean” is likely.
Euro Steady as U.S. Shutdown Extends
EUR/USD slipped to 1.1720 in Monday’s Asian trade, trimming recent gains. The pair found support as the dollar weakened amid rising Fed rate-cut expectations; 95% odds for October and 84% for December, according to CME FedWatch. The prolonged U.S. government shutdown, now in its second week and delaying key data like the September jobs report, also weighed on the greenback.
Technically, 1.1685 is the key support, while resistance is seen at 1.1755 and then 1.1810.
| R1: 1.1755 | S1: 1.1685 |
|---|---|
| R2: 1.1810 | S2: 1.1570 |
| R3: 1.1850 | S3: 1.1520 |
EURUSD will continue to go down.
Today, several banks in a number of countries are closed for holidays, which may have an impact on the sluggish market.
EURUSD came down as I predicted.
EURUSD can still go down further from here.
