ConanForex

Buy EURUSD following the uptrend channel

Long
ConanForex Updated   
FX:EURUSD   Euro / U.S. Dollar
Dear traders! EUR/USD is consolidating below 1.0900 early Wednesday amid modest gains in the US Dollar. Investors are now betting the Fed's rate cut causes US bond yields to fall, limiting the pair's downside.
In the short term, key US data on Wednesday could provide some impetus ahead of the ECB on Thursday. This price increase is expected to reach the 1.0950 mark at least.
Trade active
Comment:
After rising to 1.0900 earlier in the day, EUR/USD lost traction and turned negative on the day below 1.0870. Upbeat ISM Services PMI data gives a boost to the US Dollar and keeps the pair on its feet.
Comment:
The EU continues to operate based on the previous uptrend, whereby the USD continues to be expected by investors to weaken, so the EU is likely to increase to the specified level.

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