- As of last day, the MARKET SENTIMENT for EUR was slightly UP SIDE. The main reason for that is that the dollar is starting to weaken quite a bit. As of today, due to MARKET RISK being ON, all MARKETS including STOCKS and COMMODITIES are going up a bit. But with RETAIL SALES, ISM MANUFACTURING DATA, and FED UPDATES, this situation has changed. Therefore, if the FED continues to be HAWKISH, the USD can definitely go UP. So stay tuned for FED UPDATES.
- Definitely, according to the market structure, EURUSD can go down to the support level of 1.0290 below. At the moment, there is quite a DOWN SIDE BIAS in the MARKET for EUR. After that, EURUSD can go up to 1.0905 LEVEL. If the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going UP, there will be more EURUSD BUY. So keep an eye on it.