EURUSD 1H : waiting for news to lead
Güncellendi
EURUSD
OUTLOOK
With the start of this week's trading, the price of the EUR/USD currency pair tried to stop the pace of its losses, which extended last week to the 1.0631 support level, its lowest in six months, as the euro searches for strength factors to recover from the general downward trend. Today, the focus will be on announcing inflation numbers for the Eurozone, and if the readings are higher than expectations, the Euro may find some positive momentum against the rest of the other major currencies.
Technical abstract :
The EUR/USD pair traded positively yesterday, attacking the 1.0690 level, but we notice that the price is returning to a quiet decline, so if the readings are higher than expectations we expect that the price will build a positive momentum and breaching the bearish channel .it should be noted that breaching 1.0720 will stop the expected downward trend and lead the price to exit the downward channel and turn higher , so we expect the price will rise up and once breaking the 1.0690 level and our target will be 1.0720 and if can stabilized above it the the second target will be 1.0760.
On the other hand if the readings are lower than expectations, the price will be under strong sell pressure noting that breaking 1.0632 to confirm the extension of the bearish wave towards 1.0580.
The expect range trading for today it will be between resistance line 1.0720 and support line 1.0690
support line :1.0690 , 1.0632
resistance line : 1.0720 , 1.0760
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
With the start of this week's trading, the price of the EUR/USD currency pair tried to stop the pace of its losses, which extended last week to the 1.0631 support level, its lowest in six months, as the euro searches for strength factors to recover from the general downward trend. Today, the focus will be on announcing inflation numbers for the Eurozone, and if the readings are higher than expectations, the Euro may find some positive momentum against the rest of the other major currencies.
Technical abstract :
The EUR/USD pair traded positively yesterday, attacking the 1.0690 level, but we notice that the price is returning to a quiet decline, so if the readings are higher than expectations we expect that the price will build a positive momentum and breaching the bearish channel .it should be noted that breaching 1.0720 will stop the expected downward trend and lead the price to exit the downward channel and turn higher , so we expect the price will rise up and once breaking the 1.0690 level and our target will be 1.0720 and if can stabilized above it the the second target will be 1.0760.
On the other hand if the readings are lower than expectations, the price will be under strong sell pressure noting that breaking 1.0632 to confirm the extension of the bearish wave towards 1.0580.
The expect range trading for today it will be between resistance line 1.0720 and support line 1.0690
support line :1.0690 , 1.0632
resistance line : 1.0720 , 1.0760
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Not
The news was negative for EURUSD so the price will be under sell pressure and may will continue at the bearish channel.İşlem kapandı: hedefe ulaştı
the price reached to our target now ,to be continue at the bullish trend should stable above 1.0720 and then will try to reach 1.0760
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