EURUSD continues its 300 pips strategy
Hello EUR traders, what do you think about the direction this volatile currency will take next?
Overall, EURUSD remains positive in a 2-hour parallel rising channel. It is currently consolidating around 1.0855 as of press time, after touching 1.0863, marking a 0.03% decline on the day. So what reasons and factors are driving this currency pair?
In terms of factors: The recent decline in the US Dollar (USD) provides some support for the EUR.
On the new outlook for EURUSD: It can be seen that on almost every timeframe, EURUSD remains positive and with good market sentiment, we can expect the next phase of growth at this time.
Price is expected to recover from the correction and reach the limit of the ascending channel, retesting the 34.89 EMA and touching above the ascending channel as potential cumulative support before the Uptrend resumes develop.
If you find this article useful, don't forget to leave your opinion below in the comments, I will be very happy!
Overall, EURUSD remains positive in a 2-hour parallel rising channel. It is currently consolidating around 1.0855 as of press time, after touching 1.0863, marking a 0.03% decline on the day. So what reasons and factors are driving this currency pair?
In terms of factors: The recent decline in the US Dollar (USD) provides some support for the EUR.
On the new outlook for EURUSD: It can be seen that on almost every timeframe, EURUSD remains positive and with good market sentiment, we can expect the next phase of growth at this time.
Price is expected to recover from the correction and reach the limit of the ascending channel, retesting the 34.89 EMA and touching above the ascending channel as potential cumulative support before the Uptrend resumes develop.
If you find this article useful, don't forget to leave your opinion below in the comments, I will be very happy!
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