EURUSD: Testing support+rise, eyeing a new peak?
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Overall, EURUSD experienced a significant rally yesterday surpassing the 1.0900 level. It is currently trading at a new high of 1.0928, after hitting 1.0942, marking a 0.05% gain on the day. So what are the reasons and factors that have motivated this currency pair?
Regarding impact factors: EURUSD is consolidating its uptrend, driven by the prolonged weakness of the US dollar following the Fed's dovish policy decision. Focus turns to Eurozone and US PMI data for fresh indications.
On the new outlook for EURUSD: Looking closely at the technical chart, EURUSD has crossed both the 34-day and 89-day exponential moving averages (EMA), suggesting the possibility of further upside. Currently, EURUSD is active near resistance at 1.0952, with immediate support at 1.0902. A break above the 1.0952 resistance would usher in a bullish wave for the EURO to higher levels at 1.0982 and 1,1000.
Overall, EURUSD experienced a significant rally yesterday surpassing the 1.0900 level. It is currently trading at a new high of 1.0928, after hitting 1.0942, marking a 0.05% gain on the day. So what are the reasons and factors that have motivated this currency pair?
Regarding impact factors: EURUSD is consolidating its uptrend, driven by the prolonged weakness of the US dollar following the Fed's dovish policy decision. Focus turns to Eurozone and US PMI data for fresh indications.
On the new outlook for EURUSD: Looking closely at the technical chart, EURUSD has crossed both the 34-day and 89-day exponential moving averages (EMA), suggesting the possibility of further upside. Currently, EURUSD is active near resistance at 1.0952, with immediate support at 1.0902. A break above the 1.0952 resistance would usher in a bullish wave for the EURO to higher levels at 1.0982 and 1,1000.
Trade active:
The sell signal works well
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