Hey, traders. Thank you for the comments and Boosts.
Today's chart is EURUSD. Let's check quickly.
We can see
1. Long-term descending channel
2. Short-term ascending channel
3. the resistance on 1.04500
4. top line of the ascending channel is on 1.07000
We should check
Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI
Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. the price goes upward to 1.07000 by breaking the resistance on 1.04500
2. dropping to 1.00000 by resistance on 1.04500
Powell showed that Fed will slowdown their monetary policy.
This made dollar power weak and Euro got power to rise.
By this factor, Euro is able to break the descending channel and make ascending channel.
I'm waiting for the price breaking top resistance of the descending channel and this will be our chance for the Long position.
Let's see if we can have that chance.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Today's chart is EURUSD. Let's check quickly.
We can see
1. Long-term descending channel
2. Short-term ascending channel
3. the resistance on 1.04500
4. top line of the ascending channel is on 1.07000
We should check
Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI
Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. the price goes upward to 1.07000 by breaking the resistance on 1.04500
2. dropping to 1.00000 by resistance on 1.04500
Powell showed that Fed will slowdown their monetary policy.
This made dollar power weak and Euro got power to rise.
By this factor, Euro is able to break the descending channel and make ascending channel.
I'm waiting for the price breaking top resistance of the descending channel and this will be our chance for the Long position.
Let's see if we can have that chance.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
