EURUSD: Decreasing but increasing momentum remains the same
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Hello dear friends! Do you think EURUSD can continue to rise?
Today, the EURUSD currency pair is trading around the 1.097 level, struggling to reach above 1.1000. However, weaker-than-expected inflation data from Germany and Spain are weighing on the Euro.
Despite the pullback, the overall trend still leans towards an upward direction, with a trendline forming and the EMA 34 and 89 indicating price appreciation for this currency pair.
Regarding the outlook: The greenback is still vulnerable to US data, which is a key factor for the recovery of EURUSD. A solid breakthrough below the 1.0960 level would indicate further downside, with the next support level near the EMA 89 at 1.090. The ultimate target remains conquering the 1.10x level.
Today, the EURUSD currency pair is trading around the 1.097 level, struggling to reach above 1.1000. However, weaker-than-expected inflation data from Germany and Spain are weighing on the Euro.
Despite the pullback, the overall trend still leans towards an upward direction, with a trendline forming and the EMA 34 and 89 indicating price appreciation for this currency pair.
Regarding the outlook: The greenback is still vulnerable to US data, which is a key factor for the recovery of EURUSD. A solid breakthrough below the 1.0960 level would indicate further downside, with the next support level near the EMA 89 at 1.090. The ultimate target remains conquering the 1.10x level.
Trade attivo
Commento
Goal 1 has been achieved
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