EURUSD → Will the change in trend be confirmed?

EURUSD is forming an attempt to change the uptrend amid the strengthening of the DXY . The price is testing the resistance at 1.0888 in the correction phase.

Pic: Dollar index consolidation between MA-200 and MA-50

If we pay attention to the dollar index, we can see that it has been standing still during the week. Most likely, tomorrow's news: Initial Jobless Claims, GDP, CDGO may push the index to start moving. But, in any case, the medium and long term potential is determined by the Fed's decision on the interest rate, which at the moment they do not dare to lower.
The currency pair is breaking the trend support, testing the low and forming a correction. For the market, from a technical point of view, the target of 1.0756 has appeared. The currency pair is likely to test the resistance at 1.0888 - 1.095 before further falling to the range support.

Resistance levels: 1.0888, 1.0950
Support levels: 1.083, 1.0756

Correction after a trend change is a standard formation. The price can test the area in the format of a false breakout and after maintaining the liquidity to direct the price to a new target.

Regards R. Linda!

Komentar:

A retest of the previously broken channel boundary is formed
On the background of the retest the market makes a false breakdown
The price fixing below 1.0888 will form the moment to decline

Trade aktif:

Market waiting for news
Volatility is decreasing and consolidation is forming within the range of 1.09 and 1.085

Komentar: