đź‘€ Possible scenario:
The euro (EUR) fell 0.59% on May 7 after the Federal Reserve kept interest rates unchanged, as expected. The U.S. dollar strengthened, supported by the Fed’s cautious tone on inflation and unemployment risks, as well as optimism around upcoming U.S.-China trade talks set for May 10 in Switzerland.
On May 8, EURUSD held above the 50-day moving average. Traders are watching the Bank of England’s rate decision at 11:00 a.m. UTC, which could spark volatility in euro pairs. U.S. Jobless Claims data, due at 12:30 p.m. UTC, may also influence USD movements across the board.
âś… Support and Resistance Levels
Now, the support level is located at 1.12725.
Resistance level is now located at 1.14220.
The euro (EUR) fell 0.59% on May 7 after the Federal Reserve kept interest rates unchanged, as expected. The U.S. dollar strengthened, supported by the Fed’s cautious tone on inflation and unemployment risks, as well as optimism around upcoming U.S.-China trade talks set for May 10 in Switzerland.
On May 8, EURUSD held above the 50-day moving average. Traders are watching the Bank of England’s rate decision at 11:00 a.m. UTC, which could spark volatility in euro pairs. U.S. Jobless Claims data, due at 12:30 p.m. UTC, may also influence USD movements across the board.
âś… Support and Resistance Levels
Now, the support level is located at 1.12725.
Resistance level is now located at 1.14220.
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.
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.