Hello everyone, let's discuss and strategize our new day!
In general, EURUSD rebounded after closing above 1.0800 (exactly as my previous prediction). It is currently trading at 1.0815, highlighting a 0.09% gain on the day. So what reasons and factors are driving this currency pair?
Regarding impact factors: The US dollar fell back after last week's surge, helping the pair maintain its performance amid mixed market sentiment. US Dollar and Fedspeak remain in focus.
On the fresh outlook for EURUSD: Set on the 8-hour chart, 1.0800 remains the main and strong support level for the currency. Statistically, a break below this level will result in a significant price drop, while a stay above this level indicates further upside. Currently, observing carefully, EUR/USD is expected to rebound to the 0.618 Fibo zones i.e. (1.08554) and 0.5 (1.08720) and retest the EMA 34.89.
In general, EURUSD rebounded after closing above 1.0800 (exactly as my previous prediction). It is currently trading at 1.0815, highlighting a 0.09% gain on the day. So what reasons and factors are driving this currency pair?
Regarding impact factors: The US dollar fell back after last week's surge, helping the pair maintain its performance amid mixed market sentiment. US Dollar and Fedspeak remain in focus.
On the fresh outlook for EURUSD: Set on the 8-hour chart, 1.0800 remains the main and strong support level for the currency. Statistically, a break below this level will result in a significant price drop, while a stay above this level indicates further upside. Currently, observing carefully, EUR/USD is expected to rebound to the 0.618 Fibo zones i.e. (1.08554) and 0.5 (1.08720) and retest the EMA 34.89.
Trade active
Trade active
Related Ideas
