EURUSD: continues to move sideways
Hello everyone, let's discuss our strategy for the new day!
Today, the EURUSD trading session has been relatively calm with little price movement, hovering around 1.0836 after reaching 1.0840 earlier. This currency pair has been experiencing a decline of nearly 3% compared to its peak in December at 1.1140.
In terms of influencing factors, EUR/USD started the day on Friday with a drop due to lower-than-expected sentiment indicators in Europe and mixed GDP data from the United States, which kept the currency pair within familiar levels during the week.
Looking at the prospects for EURUSD, on the 1-hour chart, it is currently finding strong support around the breakout level of 1.0800. Breaking below this level would lead to a significant price drop, while maintaining this level would result in an increase in price. It is expected that the price will continue to recover after the adjustment period and touch the lower limit of the upward channel.
What about you? Do you agree with me?
Today, the EURUSD trading session has been relatively calm with little price movement, hovering around 1.0836 after reaching 1.0840 earlier. This currency pair has been experiencing a decline of nearly 3% compared to its peak in December at 1.1140.
In terms of influencing factors, EUR/USD started the day on Friday with a drop due to lower-than-expected sentiment indicators in Europe and mixed GDP data from the United States, which kept the currency pair within familiar levels during the week.
Looking at the prospects for EURUSD, on the 1-hour chart, it is currently finding strong support around the breakout level of 1.0800. Breaking below this level would lead to a significant price drop, while maintaining this level would result in an increase in price. It is expected that the price will continue to recover after the adjustment period and touch the lower limit of the upward channel.
What about you? Do you agree with me?
Trade active
Trade active
Comment:
