EURUSD
OUTLOOK
A new trading week in which bears increased control over the direction of the EUR/USD currency pair, with losses affecting the support level 1.0702, its lowest in three months, before settling around 1.0725 at the beginning of Thursday's session. As I mentioned before, the US dollar will be the strongest, with expectations of more US rate hikes, as the US economy was not negatively affected by the bank's tightening policy. On the other hand, the euro is exposed to the uncertainty of the scene regarding the US interest rate hike.
Technical abstract
as we expect from the previous idea the price will continue at the bearish trend and price lost a lot of points since we posted , so now we expect the bearish trend will be in control in the EURUSD and the price will be continue to lose points to reach 1.0690 and 1.0668
The expect range trading for today it will be between resistance line 1.0718 and support line 1.0690
Additionally , Today news will affect the market
support line : 1.060 , 1.0668
resistance line : 1.0718 , 1.0772
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
A new trading week in which bears increased control over the direction of the EUR/USD currency pair, with losses affecting the support level 1.0702, its lowest in three months, before settling around 1.0725 at the beginning of Thursday's session. As I mentioned before, the US dollar will be the strongest, with expectations of more US rate hikes, as the US economy was not negatively affected by the bank's tightening policy. On the other hand, the euro is exposed to the uncertainty of the scene regarding the US interest rate hike.
Technical abstract
as we expect from the previous idea the price will continue at the bearish trend and price lost a lot of points since we posted , so now we expect the bearish trend will be in control in the EURUSD and the price will be continue to lose points to reach 1.0690 and 1.0668
The expect range trading for today it will be between resistance line 1.0718 and support line 1.0690
Additionally , Today news will affect the market
support line : 1.060 , 1.0668
resistance line : 1.0718 , 1.0772
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
UPDATE
As we expected the price of EURUSD pairs lost more point and reach our first target 1.0690 and the second target still available but to confirm the bearish trend should stable under 1.0690 and then will try to reach 1.0668
The expect range trading for today it will be between resistance line 1.0718 and support line 1.0690 until breaking one of them
support line :1.0690 , 1.0668
resistance line : 1.0718 , 1.0772