EURUSD Rejected at 1.1250 as Euro Weakness Returns – 23…
By Karthik Subramanian
AI summary of the source article
EURUSD reversed downward from a resistance zone near 1.1250 amid bearish euro sentiment driven by weaker-than-expected eurozone PMI data. The currency pair is projected to fall further toward the 1.1155 support level.
Key facts
- EURUSD reversed down from the resistance zone between 1.1250, the 20-day moving average, and the 38.2% Fibonacci correction.
- The downward reversal formed a daily Shooting Star candlestick pattern.
- The pair faces bearish euro sentiment following weaker-than-expected eurozone PMI data, with expectations of falling toward 1.1155.
Source excerpt · FinanceFeeds
EURUSD currency pair can be expected to fall further toward the next support level 1.1155 (which stopped the previous impulse wave 3 at the start of October). EURUSD reversed from resistance zone Likely to fall to support level 1.1155 EURUSD currency pair r ecently reversed down from the resistance zone between the resistance level 1.1250 (former support from the start of October, as can be seen f…