Hi Traders!
Today is a big day for the EURUSD with the ECB's interest rate decision followed by their press conference. The pair is under some pressure and is approaching its yearly low at 1.04485, and we could see that being broken depending on the ECB's decision today.
Price Action 📊
The market recently broke its long-term ascending price channel, and momentum looks to be on the bearish side. The market is also below the 20 EMA.
Fundamental Analysis 📰
The Eurozone has shown strong Flash PMI data recently, so traders will be looking for positive statements from the ECB regarding the Eurozone's inflation issues.
Support 📉
1.05090: PREVIOUS WEEK'S LOW
1.04485: YEARLY LOW
Resistance 📈
1.06946: CURRENT WEEK'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Today is a big day for the EURUSD with the ECB's interest rate decision followed by their press conference. The pair is under some pressure and is approaching its yearly low at 1.04485, and we could see that being broken depending on the ECB's decision today.
Price Action 📊
The market recently broke its long-term ascending price channel, and momentum looks to be on the bearish side. The market is also below the 20 EMA.
Fundamental Analysis 📰
The Eurozone has shown strong Flash PMI data recently, so traders will be looking for positive statements from the ECB regarding the Eurozone's inflation issues.
Support 📉
1.05090: PREVIOUS WEEK'S LOW
1.04485: YEARLY LOW
Resistance 📈
1.06946: CURRENT WEEK'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX