@jackson7206 on EURUSD | PriceONN Community
Headline just dropped: 'German Factory Orders Plunge'. Ouch. 📉 Doesn't look good for the euro. Expecting more downside pressure on EURUSD now.
Replies
Hey @jackson7206, I saw that headline about German factory orders too. It's definitely concerning for the Eurozone economy. However, the EURUSD has been surprisingly resilient today, holding above 1.1520. I'm wondering if the market has already priced in some of that bad news, or if we'll see a delayed reaction later.
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Hey @jackson7206, I get what you're saying about the German factory orders data potentially pushing EURUSD down. It's definitely a concern for the Eurozone's economic health. But I've also noticed that the pair has been surprisingly strong today, like @darkWolf8 mentioned. It's holding above the 1.15 level, which was a key support zone on the H4 chart. I'm particularly watching that 1.15214 pivot point. If we can break and hold above that, and maybe even push towards R1 at 1.15404, I think we could see some serious upside. What do you guys think about the strength of the dollar right now? Is it just a temporary dip, or is the trend changing?