DAILY FOREX MARKET OUTLOOK:
DAILY FOREX MARKET OUTLOOK: EUR/USD Market Briefing
December 30/2021
EUR/USD hourly trading chart posed a strong contraction price movement, as the overall trend direction of the currency pair seem to be fluctuating along the highs and lows of the support and resistance levels. In addition the price action of EUR/USD has been trading with a downward negative sentiment since the start of June 2021.
However due to the upcoming fundamental economic update around the US rate hike and FOMC statement on the hyperinflation cure require for raising Fed funds rate in Q1 end could be a major trigger as to why the overall major currency market is trading sideways.
Alongside the holiday season could be considered as other factor that is contributing to the sluggish movement taking place in the currency Market.
Trading recommendation: If the price of EURUSD should plunge below the 1.1 1821 horizontal support the market value of EURO-USD will be aiming to meet near-term support at one point 1.07812 on the positive side if market should boynce above the 1.1 182 support the value of EUR/USD tend to meet resistance at 1.1625.
December 30/2021
EUR/USD hourly trading chart posed a strong contraction price movement, as the overall trend direction of the currency pair seem to be fluctuating along the highs and lows of the support and resistance levels. In addition the price action of EUR/USD has been trading with a downward negative sentiment since the start of June 2021.
However due to the upcoming fundamental economic update around the US rate hike and FOMC statement on the hyperinflation cure require for raising Fed funds rate in Q1 end could be a major trigger as to why the overall major currency market is trading sideways.
Alongside the holiday season could be considered as other factor that is contributing to the sluggish movement taking place in the currency Market.
Trading recommendation: If the price of EURUSD should plunge below the 1.1 1821 horizontal support the market value of EURO-USD will be aiming to meet near-term support at one point 1.07812 on the positive side if market should boynce above the 1.1 182 support the value of EUR/USD tend to meet resistance at 1.1625.
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