EURUSD Is Still Bearish Whiel It Trades Below 1.07
EURUSD had some nice bounce in the last 24 hours, back to 1.07 which is now acting as a very strong resistance. We also highlighted this one in our website here on TV. I would not be surprised if the pair comes down actually, bakc to 2023 lows since it's very hard to trust Monday flows, plus, we will rarely see directional moves ahead of key events the ECB this Thursday.
There are more and more speculations that ECB is done with rates, and that they will not raise this year anymore, which can certainly keep EURUSD pair in a downtrend. Technically we see 1.07 as an important resistance, at the same area of 50d SMA, while hourly time frame shows three waves up from the lows.
Grega
There are more and more speculations that ECB is done with rates, and that they will not raise this year anymore, which can certainly keep EURUSD pair in a downtrend. Technically we see 1.07 as an important resistance, at the same area of 50d SMA, while hourly time frame shows three waves up from the lows.
Grega
Explore our services
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
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.