EUR/USD Strategy - USD Correction at High Levels, EUR Seeks Rebound Space

Fundamental Analysis:

The US dollar has shown a correction after consecutive rallies, providing some breathing room for non-US currencies. However, whether the rebound in the euro can continue remains uncertain. Recently, ECB officials have taken a conservative tone, suggesting that inflation is persisting longer than initially expected. This may slow down the pace of ECB rate cuts, potentially offering some support to the euro until investors shift their focus back to the dollar.

Technical Analysis:

On the 15-minute chart for EUR/USD, the price is in the upper range. If the price corrects to the supply and demand zone, buy positions can be considered in the unfulfilled correction demand area. Stop-loss should be set below the range bottom, and a 1:1 risk-reward ratio or an extension to the current high is recommended as a flexible target.

Entry: Buy at 1.05541 or better.

Stop-Loss: Below 1.05161. Target: 1.05922.

Support: 1.05161 Resistance: 1.06069

The above analysis is for reference only and does not represent the platform's stance. Stick to your own strategies and implement appropriate risk controls.