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
Bitcoin down 3% & breaks 90,000$ level a...
February 25, 2025
Market Insights
DOW JONES making a Wedge in 1HR
February 12, 2025
Market Insights
The Nasdaq tumbled due to Heavy losses h...
April 22, 2025
Market Insights
GOLD WEEKLY ANALYSIS
December 14, 2024
Market Insights
Gold achieves a new record high of $3128...
March 31, 2025
Market Insights
Dow Jones Breakout Alert Eyeing Key Resi...
April 23, 2025
Market Insights