EUR/USD Poised for a Breakout – Real Move or Fakeout?

3 วันที่ผ่านมา

EUR/USD continues its sprint within an ascending channel, fluctuating between support at 1.0403 and resistance at 1.0596. While buyers are trying to maintain control, the 1.0532 resistance remains a tough barrier to break.

The upcoming Manufacturing PMI data will be the key catalyst for the next move. If the report exceeds expectations, the euro could surge toward 1.0600. On the other hand, a weak reading may trigger a pullback toward lower support levels.

Trading Strategy:
Buy Setup: Wait for a retest of 1.0403, enter long on confirmation, targeting 1.0532 – 1.0596, with a stop-loss at 1.0380.
Sell Setup: If price fails to break 1.0596, consider short positions targeting 1.0532 – 1.0403, with a stop-loss at 1.0620.
Breakout Play: A strong breakout above 1.0596 could open the door for a rally toward 1.0650 – 1.0700.

Note: The PMI data release could be the trigger for EUR/USD's next explosive move – stay alert!

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