The EUR/USD pair continues its bullish trajectory, buoyed by a weakening US dollar and positive Eurozone sentiment. As of June 2, 2025, the pair is trading around 1.1370, with technical indicators suggesting further upside potential.
🔍 Technical Analysis: Key Levels & Indicators
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Resistance Levels:
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1.1430 – Immediate static resistance.
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1.1480 – Critical resistance; a breakout could target 1.1600.
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1.1575 – April 21 high; a significant bullish target.
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Support Levels:
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1.1283 – Initial support; a dip here may attract buyers.
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1.1230 – Strong pivot point, aligning with the 50-day SMA.
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1.1200 – Key psychological level; previously a resistance turned support.
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Indicators:
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RSI on the 4-hour chart remains above 60, indicating bullish momentum.
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The pair is trading above the 50-day moving average, reinforcing the uptrend.
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🎯 Intraday Trading Plan
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Bullish Scenario:
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Entry: Buy on a confirmed breakout above 1.1430.
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Targets:
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1.1480 – First target; monitor price action closely.
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1.1575 – Extended target if momentum persists.
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Stop-Loss: Place below 1.1280 to manage risk.
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Bearish Scenario:
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Entry: Sell if the price fails to break 1.1430 and drops below 1.1280.
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Targets:
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1.1230 – Initial support; potential bounce area.
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1.1200 – Next support; watch for reversal signals.
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Stop-Loss: Place above 1.1430 to limit losses.
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📈 Fundamental Factors
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Eurozone Outlook:
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Positive economic indicators and easing inflation support the euro.
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The European Central Bank’s cautious stance provides stability.
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US Dollar Weakness:
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Recent data suggests a slowdown in US economic growth.
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Market anticipates potential rate cuts by the Federal Reserve.
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⚠️ Risk Management
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Always use stop-loss orders to protect against unexpected market movements.
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Avoid over-leveraging; maintain a risk-reward ratio of at least 1:2.
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Stay updated with economic news and events that may impact currency movements.
