EURUSD 1H : Outlook
EURUSD
OUTLOOK
The EUR/USD pair gained some positive momentum on Monday and was supported by notable offers around the US dollar.
However, the rally lacks bullish conviction amid uncertainty over the path of a rate hike by the European Central Bank (ECB).
Traders also seem reluctant to place aggressive bets ahead of this week's major data/event risks.
Technical abstract:
The EUR/USD pair trading in the bearish channel since 18 of Jul so as long as price trade under 1.0751 the price will be under sell pressure and will try to reach 1.0688 and under that 1.0688
because the price gained the positive momentum and get impulse to upward and couldn't breach 1.0751 so we expect more bearish tendency
1.0688 is important for EUR and it can rise the price again to the top of channel
The expect range trading for today it will be between support line 1.0688 and resistance line 1.0718
support line :1.0702 , 1.0688
resistance line : 1.0718 , 1.0751
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
The EUR/USD pair gained some positive momentum on Monday and was supported by notable offers around the US dollar.
However, the rally lacks bullish conviction amid uncertainty over the path of a rate hike by the European Central Bank (ECB).
Traders also seem reluctant to place aggressive bets ahead of this week's major data/event risks.
Technical abstract:
The EUR/USD pair trading in the bearish channel since 18 of Jul so as long as price trade under 1.0751 the price will be under sell pressure and will try to reach 1.0688 and under that 1.0688
because the price gained the positive momentum and get impulse to upward and couldn't breach 1.0751 so we expect more bearish tendency
1.0688 is important for EUR and it can rise the price again to the top of channel
The expect range trading for today it will be between support line 1.0688 and resistance line 1.0718
support line :1.0702 , 1.0688
resistance line : 1.0718 , 1.0751
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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