The strengthening of the US dollar today has resulted in EUR/USD breaking below the crucial support zone of 1.0871/60, pushing the pair towards a new daily low of 1.0843. Currently, EUR/USD is trading within a range between the broken support zone and the daily low.
Further bearish pressure could break the 1.0840 level, opening the way for a potential move towards the 1.0808/00 region. However, if the market sentiment reverses and turns bullish, the pair may encounter initial resistance at 1.0902 before potentially advancing higher, particularly if supported by favorable news or economic data releases like, EU & US Services PMI'S & US New Home Sales that will come out tomorrow!
Thanks for liking my posts, it is a pleasure sharing my analysis with all. Happy trading! See you tomorrow again, bye!
Further bearish pressure could break the 1.0840 level, opening the way for a potential move towards the 1.0808/00 region. However, if the market sentiment reverses and turns bullish, the pair may encounter initial resistance at 1.0902 before potentially advancing higher, particularly if supported by favorable news or economic data releases like, EU & US Services PMI'S & US New Home Sales that will come out tomorrow!
Thanks for liking my posts, it is a pleasure sharing my analysis with all. Happy trading! See you tomorrow again, bye!
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