EURUSD: Having difficulty
Updated
Hello everyone, it's great to see you all again for today's discussion on EURUSD.
Currently, the EURUSD currency pair is trading at 1.094 and showing a slight downward trend after failing to sustain its value above the resistance level of 1.11.
Overall, the decline in this currency pair is driven by a stronger US dollar, which has significantly increased the pressure.
The current support level is at 1.093, and a breakout action by the selling side could continue pushing this currency pair towards two lower profit-taking targets, expected to be at 1.089 and 1.078.
However, it is still important to carefully observe market news to have a clearer understanding of the next move for this currency pair. Good luck!
Currently, the EURUSD currency pair is trading at 1.094 and showing a slight downward trend after failing to sustain its value above the resistance level of 1.11.
Overall, the decline in this currency pair is driven by a stronger US dollar, which has significantly increased the pressure.
The current support level is at 1.093, and a breakout action by the selling side could continue pushing this currency pair towards two lower profit-taking targets, expected to be at 1.089 and 1.078.
However, it is still important to carefully observe market news to have a clearer understanding of the next move for this currency pair. Good luck!
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