Hey Traders, In today's trading session, our focus is on monitoring EURUSD for a potential buying opportunity around the 1.1100 zone. From a technical standpoint, EURUSD has successfully breached a significant resistance level at 1.1100. As a result, we are now observing the possibility of a retracement of this breakout, which could potentially lead to further upward movement and new highs.
From a fundamental perspective, the recent release of soft CPI data has important implications. The softer CPI data suggests that inflationary pressures may be easing, which, in turn, could prompt the monetary policy to become less restrictive. When monetary policy becomes less restrictive, it typically leads to a weaker USD. Therefore, based on this fundamental analysis, there is a potential for USD weakness, further supporting the case for a potential buying opportunity in EURUSD around the 1.1100 zone.
Yes they did. But i Europe inflation is realy high sky still and with yhe strong Euro is gonna to be a disaster. When is manipulation on the market and peoples believes what other make them to believe.. Euro is gonna to drop soon and DYX is gonna to go up... Also soon.. Good luck of buying euro at this price 🙈🙈🙈
JoeChampion
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@dianaelena27 Inflation is high in Europe, ECB still has to hike rates while the fed is almost done with the cycle. EURUSD was a perfect catch
TheFxAce
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Your buy signal analysis is really interesting. Do you often use candlestick patterns in your trading strategy?
Mihai_Iacob
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Thanks for sharing your outlook. Let see if… will rise as you said.