EUR/USD and DXY – Mirror signals into the weekend [Video]
|The Euro and the DXY are showing the same signals, but in a mirror‑reverse formation — no surprise given the heavy EUR weighting within the Dollar Index.
This week’s price action has been weak, so heading into the weekend we should expect profit‑taking, with 1.1600–1.1590 acting as the key support zone. The 200‑day moving average sits at 1.1582, reinforcing this area.
Because it’s Friday, most day traders will be covering shorts rather than running positions over the weekend. That means any bounce from here should be viewed as short‑covering only, not a change in trend.
- Daily charts are oversold.
- Weekly charts are not — and this is where the smart money operates.
Funds are more likely to hold positions over the weekend, keeping the broader directional bias intact.
Pivot point today: 1.1613
- R1: 1.1635.
- R2: 1.1668.
- R3: 1.1723.
- S1: 1.1580.
- S2: 1.1558.
- S3: 1.1503.
Use these levels alongside the moving averages highlighted in the video — the more confluence you find at a price point, the stronger the support/resistance.
This is not investment advice — my money, my risk.
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