RLinda ! EURUSD-> rollback to resistance. What's next?

5 Eki 2022

EUR/USD rose 0.4% ahead of the release of euro zone producer price data. Those indicators are expected to remain high, adding pressure on the European Central Bank, which will continue to raise interest rates significantly at the end of the month.

The main question at this point is whether the slowdown seen in the U.S. and global economies will force the Federal Reserve to adjust the trajectory of the rate hike lower, as the U.N. has recently requested

In terms of technical analysis, we have a global downtrend and a bearish price channel formed. The price is moving steadily within this range and continues its decline. After testing the support at 0.9622, we see formation of a pullback, which means that the channel remains an important figure, from which you can build your trading strategy. I assume that from the resistance we may see the continuation of the currency pair falling in the direction of the global trend.

Sincerely R.Linda!