The EURUSD has found support along the 1.0720 price level (with the 61.8% Fibonacci retracement level and the bullish trendline forming a confluence)
If the DXY does weaken with the news tonight, the EURUSD could bounce strongly from the support level to trade higher toward the resistance level of 1.09 (moving similarly to the price action on the 9th of May)
A trigger level for further upside potential would be a break of the 23.6% Fibonacci retracement level.
If the DXY does weaken with the news tonight, the EURUSD could bounce strongly from the support level to trade higher toward the resistance level of 1.09 (moving similarly to the price action on the 9th of May)
A trigger level for further upside potential would be a break of the 23.6% Fibonacci retracement level.
Join my mailing list jindaotai.com/joinme
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.
Join my mailing list jindaotai.com/joinme
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.