📌After the surprise data on US services PMI skyrocketed, there was concern that the FED would cut interest rates less than expected. This caused investors to rush into the USD and pushed the Euro down despite the EUR PMI data. better than previously announced expectations.
📌EUR/USD recovers to 1.0850 as risk mood improvesEUR/USD gains traction and rises to 1.0850 on Friday. The improvement seen in the risk mood made it difficult for the US Dollar (USD) to maintain its strength and helped the pair erase some of its weekly losses.
📌EURUSD does not break the EMA 89 and continues to maintain its long-term uptrend. After bouncing up to 1.0850 EUR, it created a new, more stable and solid trendline. This 1.0850 area is currently a resistance area saved by the trendline and the old peak in the h4 time frame, so there is a high possibility that the pair will have a slight recovery. The highest increase that the pair can achieve next week is around the price range of 1.0930 after breaking the peak around 1.0890. On the opposite side, if the rising trendline is broken, the next support level is around 1.0770, at which point a short-term downtrend will begin to form if this support is broken.
🕯Trading signals
BUY EURUSD zone 1.07700-1.07500 SL 1.07200
SELL EURUSD zone 1.09300-1.09500 SL 1.09800
📌EUR/USD recovers to 1.0850 as risk mood improvesEUR/USD gains traction and rises to 1.0850 on Friday. The improvement seen in the risk mood made it difficult for the US Dollar (USD) to maintain its strength and helped the pair erase some of its weekly losses.
📌EURUSD does not break the EMA 89 and continues to maintain its long-term uptrend. After bouncing up to 1.0850 EUR, it created a new, more stable and solid trendline. This 1.0850 area is currently a resistance area saved by the trendline and the old peak in the h4 time frame, so there is a high possibility that the pair will have a slight recovery. The highest increase that the pair can achieve next week is around the price range of 1.0930 after breaking the peak around 1.0890. On the opposite side, if the rising trendline is broken, the next support level is around 1.0770, at which point a short-term downtrend will begin to form if this support is broken.
🕯Trading signals
BUY EURUSD zone 1.07700-1.07500 SL 1.07200
SELL EURUSD zone 1.09300-1.09500 SL 1.09800
Trade active
