EURUSD → Weak market. The target is 1.06. But, news...

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!

Giao dịch đang hoạt động:

Fundamental background still remains negative
Price may bounce from resistance and head downwards