6E1!: Rebound at Weekly Supply Sparks Potential Reversal

The EURUSD (6E1! futures) experienced a rebound from a weekly supply zone* and now appears to be approaching a potential reversal toward a demand area. The overall picture is clear: we already capitalized on the rebound off the previous weekly supply zone, and at this point, we're simply observing the price as it approaches another key area of interest. It may be too late to initiate new short positions at this stage, but traders still holding shorts could potentially benefit from a continued move downward.

From a fundamental perspective, our Friday analysis of the DXY** indicated the possibility of a bullish impulse, and today the US Dollar opened the session with a 0.58% gain. Currently, both commercial and non-commercial traders are aligned with the prevailing scenario. The most optimistic outlook suggests the price could decline to around 1.14030 over the coming weeks.

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Previous analysis on EURUSD 6E1!


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DXY Analysis


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