EURUSD: Up but uncertain
Updated
Karina Hello everyone, Yesterday EURUSD received some upward momentum and was in a correction wave as this pair has experienced a period of weakness since the start of the new week.
Accordingly, the ECB's hawkish views have pushed back expectations of an early interest rate cut, further supporting the currency pair. However, the 4-hour chart is now trending further downward in the very near term as EURUSD approaches the 0.618 - 0.5 fibonacci retracement level. A break of 1.0844 would not see notable support until 1.0773 is reached.
Karina still expects this pair to continue to decline, what about you, how do you think EURUSD will move?
Accordingly, the ECB's hawkish views have pushed back expectations of an early interest rate cut, further supporting the currency pair. However, the 4-hour chart is now trending further downward in the very near term as EURUSD approaches the 0.618 - 0.5 fibonacci retracement level. A break of 1.0844 would not see notable support until 1.0773 is reached.
Karina still expects this pair to continue to decline, what about you, how do you think EURUSD will move?
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