👉🏼 Possible scenario:
The euro (EUR) climbed 0.96% to 1.1185 against the U.S. dollar (USD) on May 13, boosted by weaker U.S. inflation data that strengthened expectations of a more dovish Federal Reserve. Easing trade tensions further pressured the dollar, which saw its steepest decline in three weeks.
While analysts anticipate some short-term strength in the USD, lingering policy uncertainty in the U.S. limits prospects for a full recovery. With no major economic releases on May 14, EURUSD is likely to maintain its current trajectory.
✅ Support and Resistance Levels
Now, the support level is located at 1.10850.
Resistance levels are now located at 1.12590 and 1.13700.
The euro (EUR) climbed 0.96% to 1.1185 against the U.S. dollar (USD) on May 13, boosted by weaker U.S. inflation data that strengthened expectations of a more dovish Federal Reserve. Easing trade tensions further pressured the dollar, which saw its steepest decline in three weeks.
While analysts anticipate some short-term strength in the USD, lingering policy uncertainty in the U.S. limits prospects for a full recovery. With no major economic releases on May 14, EURUSD is likely to maintain its current trajectory.
✅ Support and Resistance Levels
Now, the support level is located at 1.10850.
Resistance levels are now located at 1.12590 and 1.13700.
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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.
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.