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Euro / U.S. Dollar

EURUSD down facing Dollar appreciation

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Today the recent fundamental news for the United States boosted the Dollar [symbol = "INDEX: DXY"] INDEX: DXY [/ symbol] specifically the Existing Home Sales in percentage terms 1.1% as well as 5.60M units exceeding the forecast values, undoubtedly an indicator that is a reference to determine the power of the currency. This has generated a bearish domino effect for the current session in the main pairs whose Dollar is the denominator.

* Specifically the pair [symbol = "FX: EURUSD"] FX: EURUSD [/ symbol] which is in the terminal phase of a descending triangle will seek to break the current support to: either generate the bearish trend or break the support, bounce back into the now newly created resistance and continue its downward trend.

* If so and [/ i] ceteris paribus [/ i] the pair could be seen in the range of 1.2050 to 1.1950 in the coming days.
omaruiz7
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Trend Analysis

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Trend Analysis
omaruiz7
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.