Hello dear friends!
EURUSD today has undergone a significant short-term recovery and is currently trading calmly at 1.0550 since the time of writing. The tensions in the Middle East and higher-than-expected inflation figures in the United States have boosted the demand for the safe-haven US Dollar.
From the analysis chart, we can observe that a downward trend channel has formed with a breakout level at 1.0604. Despite some short-term rebounds, there isn't enough momentum to escape the downward trend.
The target for this week is 1.0448. The important levels to consider are:
Support levels: 1.0495, 1.0450, 1.0400
Resistance levels: 1.0570, 1.0610, 1.0650
EURUSD today has undergone a significant short-term recovery and is currently trading calmly at 1.0550 since the time of writing. The tensions in the Middle East and higher-than-expected inflation figures in the United States have boosted the demand for the safe-haven US Dollar.
From the analysis chart, we can observe that a downward trend channel has formed with a breakout level at 1.0604. Despite some short-term rebounds, there isn't enough momentum to escape the downward trend.
The target for this week is 1.0448. The important levels to consider are:
Support levels: 1.0495, 1.0450, 1.0400
Resistance levels: 1.0570, 1.0610, 1.0650
Note
The macroeconomic calendar will include a Federal Reserve (Fed) speaker in the afternoon in the US, with attention also focused on the final earnings season of the year.Trade active
Note
Note
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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.
Related publications
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.