EURUSD Bearish Outlook Still Intact
Fundamental:
No high impact news release coming out in the next 20hrs for The Euro And The USD. Investors staying hopeful on the United States Dollar after Jerome Powell's speech last week at the Jackson Hole Symposium.
Further, increases interest rate for the euro might be bad for businesses at the moment due to inflation.... maybe
Technical:
Mild resistance around 1.0824 but should hold long as 15 mins 200 EMA should act as a strong support for buyers.
I'll be looking the resistance around 1.0852. The 1 hrs 200 EMA also stays as resistance at this point. The Dollar Index (DXY) should also rise and break above 104.44.
No high impact news release coming out in the next 20hrs for The Euro And The USD. Investors staying hopeful on the United States Dollar after Jerome Powell's speech last week at the Jackson Hole Symposium.
Further, increases interest rate for the euro might be bad for businesses at the moment due to inflation.... maybe
Technical:
Mild resistance around 1.0824 but should hold long as 15 mins 200 EMA should act as a strong support for buyers.
I'll be looking the resistance around 1.0852. The 1 hrs 200 EMA also stays as resistance at this point. The Dollar Index (DXY) should also rise and break above 104.44.
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