From a technical perspective, EURUSD was showing weakness after breaking a rising channel which is a bearish continuation pattern, price retested the mentioned channel with a bearish flag which gave us a clear sell entry.
Some profits were secured, however if prices managed to break bellow 1.0100 zone we may see more decline in prices targeting 1.0040.
From a fundamental perspective, the dollar index is showing strength as we may see more hawkish Fed decisions in order to fight inflation. Besides, news came from the US today @3:30pm showed higher than expected Retail Sales data.
Some profits were secured, however if prices managed to break bellow 1.0100 zone we may see more decline in prices targeting 1.0040.
From a fundamental perspective, the dollar index is showing strength as we may see more hawkish Fed decisions in order to fight inflation. Besides, news came from the US today @3:30pm showed higher than expected Retail Sales data.