EURUSD slightly decreased: Waiting for a breakthrough
Hello friends! Currently the EUR/USD pair hovers around 1.0740 during the Asian session on Thursday, trying to recover from the previous day's losses ahead of the policy decision from the European Central Bank (ECB).
But now the EUR/USD pair has experienced a decline following the release of upbeat Consumer Price Index (CPI) data from the United States (US).
Looking at the technical picture of the EUR/USD pair on the 4-hour chart, we can see that the pair has returned to the expected short-term bearish support line.
_Given that the trend line remains intact as a rule we should still aim higher. That means we will follow that plan.
If that happens, it is likely to hit the psychological level of 1.0798. Many buyers can be invited to join the market.
And you, how do you feel?
But now the EUR/USD pair has experienced a decline following the release of upbeat Consumer Price Index (CPI) data from the United States (US).
Looking at the technical picture of the EUR/USD pair on the 4-hour chart, we can see that the pair has returned to the expected short-term bearish support line.
_Given that the trend line remains intact as a rule we should still aim higher. That means we will follow that plan.
If that happens, it is likely to hit the psychological level of 1.0798. Many buyers can be invited to join the market.
And you, how do you feel?
Comment:
EUR/USD continued to fall today during the US session, falling to the sub-1.0640 area as the Euro uptrend faded towards ether. The Euro (EUR) is at its lowest price against the Greenback (USD) in six months.
