EURUSD is forming a consolidation, characteristic of a pre-breakout, against a key support line as the dollar index continues to gain support and hold north.A strong bearish situation is developing on D1. There is no strong buyer in the market that can turn around a weak market under pressure from strong bears. The market is below the MA200-MA50 daily moving averages and is also forming consolidation relative to the support, which with a high degree of probability speaks about the intentions to go lower.
On H4 the price is in consolidation, above the local maximum is the area of liquidity, as well as resistance, which can test the market before the subsequent decline.
BUT! Today's news. Traders are waiting for PCE inflation data....
Resistance levels: 1.07238, 1.07816
Support levels: 1.0664, 1.0606
Technically and fundamentally, the currency pair is in a neutral-negative outlook. If the fundamental background does not change today, I will still stick to the downward movement to 1.06- 1.055.
Regards R. Linda!
Trade active
Fundamental background still remains negativePrice may bounce from resistance and head downwards
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🧿 Web: rlinda.com
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
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.