EUR/USD Bearish Outlook: Focus on Sell Opportunities

This chart of EUR/USD on the daily timeframe highlights a clear bearish trend, signaling potential opportunities for selling. The recent price action is contained within a descending wedge pattern, with multiple red arrows indicating points of resistance and potential continuation of the downtrend.

Key Technical Highlights:
Bearish Trendlines: The descending upper and lower trendlines show price consistently making lower highs and lower lows.
Support Levels: Horizontal levels at 1.0400 and 1.03694 mark key areas to watch for potential breaks to the downside, which could accelerate selling momentum.
Forecast Path: The projected gray arrows suggest further bearish continuation, aligning with the overall downtrend.
Fundamental Context:
Diverging Monetary Policy: The U.S. Federal Reserve remains hawkish, with higher interest rates supporting the U.S. dollar. In contrast, the European Central Bank (ECB) is expected to adopt a more cautious stance due to slowing economic growth in the Eurozone.
Economic Weakness in Europe: Weak manufacturing and inflation data from the Eurozone further pressure the euro, making it vulnerable to downside risks.
Safe-Haven Flows: Uncertainty in global markets is increasing demand for the U.S. dollar as a safe-haven currency, adding to the bearish outlook for EUR/USD.
Beyond Technical AnalysisChart PatternsTrend Analysis

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