Dear friends, the Euro is facing difficulties in surpassing the 1.06 USD threshold as investors prepare for the upcoming meeting of the European Central Bank over the weekend. At the time of writing, EURUSD is trading at 1.058.
On another note, strong economic data from the United States, along with ongoing conflicts in the Middle East, have increased demand for the US dollar. Therefore, it shows that the decline will start from here.
From a technical perspective:
On the 1D, this currency pair is showing an upward trend, but it is currently experiencing a breakthrough here, with an expected decline to 0.964. What are your thoughts on my analysis?
On another note, strong economic data from the United States, along with ongoing conflicts in the Middle East, have increased demand for the US dollar. Therefore, it shows that the decline will start from here.
From a technical perspective:
On the 1D, this currency pair is showing an upward trend, but it is currently experiencing a breakthrough here, with an expected decline to 0.964. What are your thoughts on my analysis?
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Comment:
Later in the day, the Euro Area will release a preliminary estimate of October Consumer Confidence, previously at -17.8.
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