EUR/USD Holds at Key Neckline Support Ahead of Eurozone PMI and US NFP Data

The EUR/USD pair is trading around 1.1309, slightly higher as traders await key macroeconomic releases from the Eurozone and the US. The 4-hour chart shows a potential Head and Shoulders pattern, signaling a possible bearish reversal. However, the price is currently holding above the neckline support zone of 1.1270–1.1300, a crucial level to watch.

A break below this area could trigger further downside toward 1.1142 and 1.0738, confirming the bearish setup. On the other hand, stronger-than-expected Eurozone PMI or weak US NFP data could lead to a bounce, invalidating the bearish outlook and pushing the pair higher.

Traders should remain cautious as volatility is likely to increase with upcoming data releases.

Recent News

The Nasdaq tumbled due to Heavy losses h...

April 22, 2025

Market Insights

AUDUSD made a Doji on daily time frame

December 12, 2024

Market Insights

US Tech 100 Eyes Breakout Bullish Flag i...

April 02, 2025

Market Insights

Dow Jones Index Testing Critical Resista...

March 24, 2025

Market Insights

US Election update

November 05, 2024

Market Insights

Maddy

Cross-Asset Analyst & Trainer

Varun Sharma

Senior Strategist

VJ Yadav

FX Strategist

Bot Window | Bot Window