The EUR/USD reached 1.1590 after an unsuccessful attempt to rise above 1.1678 this morning. This was likely due to soured market sentiment and expectations of sticky US prices. It appears the downtrend could continue, with a potential move lower to the weekly S1 at 1.1545. The weekly pivot at 1.1622 should cap any upward moves, but a shift in sentiment could see the pair rise above it to 1.1650.
I believe the pair will consolidate around 1.1600 as it awaits new economic news.
It was great sharing my views with everyone, have a great rest of the day!
I believe the pair will consolidate around 1.1600 as it awaits new economic news.
It was great sharing my views with everyone, have a great rest of the day!
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