EUR/USD: pullback expectations have been met, now notice here
The U.S. dollar has risen twice in a row, focusing on U.S. inflation. This also means that all the suggestions given in the previous two days have been verified. We have obtained enough profit in the process of pullback. At present, the free communication channel has been opened. I hope everyone can seize the opportunity to enter.
On Tuesday, the U.S. dollar, as measured by the U.S. Dollar Index (DXY), continued to rebound and recorded two consecutive days of gains.Before the U.S. debt ceiling negotiations and the release of heavy U.S. inflation data, U.S. stocks remained cautious, while U.S. bond yields held steady after the release of solid non-data on Friday.
Against this background, EUR/USD fell 0.54% to 1.0945 during the final trading session in New York overnight, its lowest level since April 19.
Technical analysis of EUR/USD trend: Focus on potential range breakthroughs
Since mid-April, EUR/USD has been limited to maintaining range consolidation in the side channel.As shown in the daily chart below, EUR/USD has been fluctuating back and forth between the upper and lower limits of the recent range.
Following this week's decline, EUR/USD is constantly approaching the lower limit of the range, which is 1.0920-1.0915, which is an important bottom worth paying attention to.EUR/USD bulls must keep this range at all costs. If the range is lost, sentiment may deteriorate rapidly at that time, thus laying the groundwork for EUR/USD to fall further towards the trend line support, which is the 1.0850 line.
Conversely, if EUR/USD successfully ushers in a recovery and reverses upward from the current price, then the initial resistance will focus on 1.1090/1.1100.The long EUR/USD is expected to be difficult to push the pair to break through this resistance range, but if the long successfully clears this obstacle, then the path of the least subsequent resistance will be to further rise to the important psychological threshold of 1.1200.
Trend analysis can be used as a judgment point of direction, but it is not absolute. The influence of news on the trend is also very huge, so if you don't have enough time to pay attention to market dynamics, it is easy to cause losses for so long.
As a novice friend who has no time or has not entered the market soon, you can directly join the channel, which is more direct and convenient to obtain signals.
On Tuesday, the U.S. dollar, as measured by the U.S. Dollar Index (DXY), continued to rebound and recorded two consecutive days of gains.Before the U.S. debt ceiling negotiations and the release of heavy U.S. inflation data, U.S. stocks remained cautious, while U.S. bond yields held steady after the release of solid non-data on Friday.
Against this background, EUR/USD fell 0.54% to 1.0945 during the final trading session in New York overnight, its lowest level since April 19.
Technical analysis of EUR/USD trend: Focus on potential range breakthroughs
Since mid-April, EUR/USD has been limited to maintaining range consolidation in the side channel.As shown in the daily chart below, EUR/USD has been fluctuating back and forth between the upper and lower limits of the recent range.
Following this week's decline, EUR/USD is constantly approaching the lower limit of the range, which is 1.0920-1.0915, which is an important bottom worth paying attention to.EUR/USD bulls must keep this range at all costs. If the range is lost, sentiment may deteriorate rapidly at that time, thus laying the groundwork for EUR/USD to fall further towards the trend line support, which is the 1.0850 line.
Conversely, if EUR/USD successfully ushers in a recovery and reverses upward from the current price, then the initial resistance will focus on 1.1090/1.1100.The long EUR/USD is expected to be difficult to push the pair to break through this resistance range, but if the long successfully clears this obstacle, then the path of the least subsequent resistance will be to further rise to the important psychological threshold of 1.1200.
Trend analysis can be used as a judgment point of direction, but it is not absolute. The influence of news on the trend is also very huge, so if you don't have enough time to pay attention to market dynamics, it is easy to cause losses for so long.
As a novice friend who has no time or has not entered the market soon, you can directly join the channel, which is more direct and convenient to obtain signals.
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