Saad Ullah
⬤ The euro extended its losses against the dollar this week, finally hitting the anticipated 1.50010 level. The bearish momentum that's been driving the pair lower has now run its course, at least for now, with price settling into a critical support area.
⬤ EUR/USD pushed down to the 1.50010 target level this week, wrapping up the current bearish phase. The pair has been sliding steadily, and after getting rejected around 1.1600, it accelerated lower straight into the demand zone marked on the chart. Multiple attempts to hold higher ground failed as sellers kept the pressure on throughout the move.
⬤ The chart shows a clear downtrend with lower highs and lower lows stacking up. After breaking below key support, the pair dropped sharply into the orange-shaded demand area where buyers had previously stepped in. The RSI stayed weak throughout, confirming the strength of the selling pressure. A few wick rejections along the way showed brief attempts to stabilize, but none stuck until price reached the target zone.
⬤ Hitting 1.50010 matters because this level sits inside a structural demand zone where the market has reacted strongly before. Completing a bearish leg at this spot could shift things—traders are now watching to see if the euro will bounce, consolidate sideways, or keep falling once the week kicks off again. The next move from here will likely set the tone for the near-term direction.
Saad Ullah
