EURUSD 4H
Updated
EURUSD
OUTLOOK
According to the data, the economic confidence index in Germany shrank to 12.3 points, better than market expectations, which reported a contraction of economic confidence in Germany to 15.0 points, while the previous reading of the index recorded a strong contraction of 14.7 points during last July.
the price trade at the sensitive and important area between 1.0903 - 1.0949 which is important area and it could lead the price to a new lows or lead to the previous broken area
so consolidation above 1.0949 the chance of rise up will increase and the price will try to build a positive momentum to reach the next resistance line 1.1041
other wise , this area it could lead the price to record the new lows and lose more points to reach the next support line 1.0838
Today news will affect the market
support line : 1.0903 , 1.0838
resistance line : 1.0949 , 1.0972
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OUTLOOK
According to the data, the economic confidence index in Germany shrank to 12.3 points, better than market expectations, which reported a contraction of economic confidence in Germany to 15.0 points, while the previous reading of the index recorded a strong contraction of 14.7 points during last July.
the price trade at the sensitive and important area between 1.0903 - 1.0949 which is important area and it could lead the price to a new lows or lead to the previous broken area
so consolidation above 1.0949 the chance of rise up will increase and the price will try to build a positive momentum to reach the next resistance line 1.1041
other wise , this area it could lead the price to record the new lows and lose more points to reach the next support line 1.0838
Today news will affect the market
support line : 1.0903 , 1.0838
resistance line : 1.0949 , 1.0972
If this post was useful to you , don't forget to subscribe and like , Thanks ❤️
Note
the price still at the sensitive zone between 1.0903 - 1.0949 and investors are awaiting the release of the minutes of the US Central Bank meeting for the month of July, to explore the path of the next strategy related to interest rates. so today will decide that the price will go to the previous broken area or it will record the new lowsNote
as we mentioned consolidation under 1.0903 it could lead the price to record a new lows and lose more points Now the price try to retest the 1.0903 - 1.0949 zone before reach to the 1.0838 line
today news will affect the market
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