Hello dear friends, EURUSD is currently trading around the level of 1.069, approaching the level of 1.07 and showing some positive price movements.
Yesterday, after rising to 1.0725, EUR experienced a sharp decline to the low level of 1.0658. The downward movement reached below 1.0640, but the next support level at 1.0620 is unlikely to be threatened. Although our 'strong support' level at 1.0640 has not been broken, the upward momentum has weakened to some extent. In other words, EU is still confined within a downward price channel, but the prospects for EUR have shifted to neutral. Currently, EUR may trade sideways within a relatively wide range of 1.0580 - 1.0750.
Yesterday, after rising to 1.0725, EUR experienced a sharp decline to the low level of 1.0658. The downward movement reached below 1.0640, but the next support level at 1.0620 is unlikely to be threatened. Although our 'strong support' level at 1.0640 has not been broken, the upward momentum has weakened to some extent. In other words, EU is still confined within a downward price channel, but the prospects for EUR have shifted to neutral. Currently, EUR may trade sideways within a relatively wide range of 1.0580 - 1.0750.
Trade closed: target reached
