EURUSD Offers another Downside Opportunity
The EURUSD pair fell sharply from the 1.17300–1.17800 range earlier in July to a low of 1.15560, before rebounding on speculation around Federal Reserve Chair Jerome Powell’s potential resignation. With that risk now largely off the table, downside momentum may return. The pair looks poised to resume its slide toward the initial target zone of 1.15000–1.15500.
This pullback presents an attractive opportunity to re-enter short positions. I plan to open a short trade in the 1.16800–1.17400 zone, aiming to capture the next leg of the decline. A stop-loss is set at 1.18500, safely above the 1.18290 four-year high, which serves as a strong technical resistance.
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