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Triple bottom possible reversal or Continuatio n pattern Breaking upside confirmation required to buy

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EUR/USD has managed to stage a rebound after having declined toward 1.0500 in the early American session. The negative shift witnessed in market sentiment after the latest US data, however, helps the dollar find demand and doesn't allow the pair to extend its recovery.

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EUR/USD is holding higher ground above 1.0500, helped by notable US dollar supply in early Europe. The risk tone recovers despite the growing recession and fragmentation fears. The euro erased early losses led by the French election outcome.

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EUR/USD consolidates Thursday's gains but manages to hold above 1.0500 on Friday. The data published by Eurostat showed that the HICP inflation was 8.1% on a yearly basis in May, matching the flash estimate and the market expectation. Investors await US data, Powell's speech.

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Safe-haven flows dominate the financial markets after inflation and consumer confidence data from the US, providing a strong boost to the dollar ahead of the weekend.

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EUR/USD has regained its traction in the early American session and climbed toward 1.0750. The greenback is having a difficult time finding demand on Wednesday as investors gear up for the European Central Bank's policy announcements on Thursday.

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US: Momentum in consumer spending continued into the second quarter – Wells Fargo Data released on Friday showed Persona Spending rose in April 0.9%, surpassing expectations. Analysts at Wells Fargo point out that for the first time since October 2021 income outpaced inflation. They forecast consumer spending will downshift over the next quarters.

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Eurozone Consumer Confidence rises to -21.1 in May from -22.0 in April . Eurozone Consumer Confidence Index rose from -22.0 in April to -21.1 in May, according to the latest data release from the European Commission. That was slightly better than the small expected rise to -21.5, but still left the index close to multi-year lows, as EU consumers struggle amid...

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Trendline resisitance........................................................

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Trendline predictions more downside.................................1.3300

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EURUSD Bullish bias BUY levels 1.13574 1.12254 ....................................

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EW analysis D1 charts Wave 5 is remaining more downside.

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S/R 1.1300, 1.1250. 1.1200 , Mid S/R levels 1.1275, 1.1225 .......................

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Sell GBPUSD @ Resistance RSI , MA DownSide , Linear Regression channel Down, EW correction Waves ABC

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EURUSD retracement level fibo 0.61% @ 1.1418 , ......................................