Hello dear friends! Let's recap the market and discuss our new plan, shall we?
Overall, the EURUSD downtrend continued last week. Strong resistance at the 1,080 mark could not cause the EU to break through and the downtrend continued. Currently, EU is trading at the 1.073 mark marking a 0.1% decline on the day. At the same time as indicated (on chart 1D) there is a pattern forming. In a downtrend, the resistance at 1,080 could react similarly. Theoretically, as long as
EUR does not hold the good gains at 1,070 we could see a significant decline where the bears are sustainably dominating.
Accordingly, in the context of a strengthening dollar, this goes hand in hand with the opposite reaction of the EUR which is going down. But! In the face of today's volatile news, because it is news it will react mixed, which will create confusing reactions, as you know as long as it does not maintain the support level I mentioned. (it will create a significant bearish impulse. In the short term, I expect the price to test the previously broken resistance level, but it may not last long as it approaches. There is evidence that a Once it hits the resistance level, it will continue its downward movement, as indicated by the unchanged EMA.
What do you think about EURUSD?
Overall, the EURUSD downtrend continued last week. Strong resistance at the 1,080 mark could not cause the EU to break through and the downtrend continued. Currently, EU is trading at the 1.073 mark marking a 0.1% decline on the day. At the same time as indicated (on chart 1D) there is a pattern forming. In a downtrend, the resistance at 1,080 could react similarly. Theoretically, as long as
EUR does not hold the good gains at 1,070 we could see a significant decline where the bears are sustainably dominating.
Accordingly, in the context of a strengthening dollar, this goes hand in hand with the opposite reaction of the EUR which is going down. But! In the face of today's volatile news, because it is news it will react mixed, which will create confusing reactions, as you know as long as it does not maintain the support level I mentioned. (it will create a significant bearish impulse. In the short term, I expect the price to test the previously broken resistance level, but it may not last long as it approaches. There is evidence that a Once it hits the resistance level, it will continue its downward movement, as indicated by the unchanged EMA.
What do you think about EURUSD?
Trade active
Trade active
Comment:
EUR/USD trades in positive territory above 1.0750 in the American session on Tuesday. Although the data from the US came in slightly better than expected, the US Dollar struggles to find demand and helps the pair stretch higher.
Trade active
Comment:
It bounced back and the prospect of a correction remains intact as the USD is growing again
Comment:
EUR/USD continues to fluctuate in a narrow channel below 1.0800 in the early American session on Wednesday. The ADP reported that the US private sector employment rose 184,000 in March but this data failed to provide a boost to the USD.
Comment:
Comment:
Trade active
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