EUR/USD and DXY – Mirror signals into the weekend [Video]

Carol Harmer Charmer Trading

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.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

EUR/USD defends 1.1600 amid renewed US Dollar weakness

EUR/USD defends ground above 1.1600 in European trading on Friday. The US Dollar meets fresh supply amid a better market mood, despite receding bets for Fed rate cuts, lending some support to the pair. Fedspeak awaited.

GBP/USD grinds higher to 1.3400 as US Dollar turns south

GBP/USD edges higher to test 1.3400 in the European session on Friday after registering modest losses in the previous session. The pair draws support from a renewed bout of selling seen around the US Dollar as risk sentiment improves. The focus now turns to geopolitical developments and Fedspeak.

Gold steadies near $4,600 due to risk-on mood, Fed caution bets

Gold hovers around $4,600 during the early European hours on Friday. However, Gold prices fell amid decreasing safe-haven demand as geopolitical risks in Iran temporarily eased. US President Donald Trump signaled he may delay military action after Iran pledged not to execute protesters.