EURUSD (Toward 1.08030)

EUR/USD: Euro Dips Near $1.08 as Traders Await Fed Minutes

Despite the anticipation, analysts foresee no surprises, expecting the familiar "we're data dependent" stance from the US central bank. Fed Chair Jerome Powell has repeatedly emphasized that policymakers are closely monitoring all incoming data and are prepared to reduce interest rates if signs indicate the economy is at risk of derailing, potentially impacting businesses and consumers.

Technically:

The price reached the price we mentioned in the previous idea, it was the upper of the channel.

Now, the price will continue the bearish trend toward 1.08030 and then should break that to get 1.0770 and 1.07070

stability above 1.0883 means will start a new bullish trend toward 1.0992,

Previous Idea:

Pivot Price: 1.0853
Resistance Levels: 1.0992, 1.1045, 1.1075
Support Levels: 1.0803, 1.0768, 1.0707

The price is expected to oscillate between the support at 1.08030 and the resistance at 1.0883.

Trade active:

The prediction situation still activate to reach 1.0803