EUR/USD:SELL From Resistance Area For A SHORT Setup

The optimism around the European currency remains well and sound and prompts EUR/USD to keep the trade in the upper end of the recent range near 1.0760 midweek. Today the EUR/USD is up for the fourth consecutive session, although further upside now appears somewhat contained amidst persistent prudence among traders in light of Thursday’s release of US inflation figures measured by the CPI for the month of December. The European currency is expected to closely follow dollar dynamics, the impact of the energy crisis on the region, and the Fed-ECB divergence. The increasing speculation of a potential recession in the bloc emerges as an important domestic headwind facing the euro in the short-term horizon.
Our Technical view shows the pair inside a ranging area with a Stochastic in an overbought area and the Stop loss at 1.0800

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