💶 EUR/USD Chance of upward correction 💶

💶 EUR/USD Chance of upward correction

💶 EUR/USD For the past few weeks it has scored a big correction falling as low as 1.04890

💶 All of this was due to the rise in the US Dollar caused by the rise in the price of oil and the prospect of interest rates remaining high for an extended period of time

💶 Currently, the price has reached a double-bottom formation, testing the recent lows

💶 Looking at the fundamental situation, which does not look too bad at the moment in the Eurozone, everyone is waiting for the economic growth data for the third quarter (flash), which will be announced on October 31.

💶 Until then, I expect to see an attempt to pull the euro upward, as well as declines in the Dollar due to the lack of further strength in oil increases and rising unemployment

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Comment:

Euro refuses to fall further