New channel
The price has once again reached a key level on a weekly time frame: at the price of 1,127 a static support has formed, which tends to bounce the price and keeping it within this channel, with resistance at 1,146.
Very short, short and medium term
The trend remains bearish in the short term, while in the medium term it continues to be strongly bearish: with the macroeconomic scenarios that have been configured, the target area is between 1.10 and 1.08, despite this we believe that this week there may be a price rebound from this area because of the conference that will be held today by the president of FED Powell, who should still reassure the market, supporting the new very short-term monetary policy that will not lead to other restrictions.
Consequences
This should result in a sale on the US dollar by investors, devaluing the USD against the other majors, and therefore also against the euro (which remains highly unstable currency and will continue to depreciate for most of 2019).
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The price has once again reached a key level on a weekly time frame: at the price of 1,127 a static support has formed, which tends to bounce the price and keeping it within this channel, with resistance at 1,146.
Very short, short and medium term
The trend remains bearish in the short term, while in the medium term it continues to be strongly bearish: with the macroeconomic scenarios that have been configured, the target area is between 1.10 and 1.08, despite this we believe that this week there may be a price rebound from this area because of the conference that will be held today by the president of FED Powell, who should still reassure the market, supporting the new very short-term monetary policy that will not lead to other restrictions.
Consequences
This should result in a sale on the US dollar by investors, devaluing the USD against the other majors, and therefore also against the euro (which remains highly unstable currency and will continue to depreciate for most of 2019).
Join us for further analysis on:
Instagram : www.instagram.com/bfcminvest/
Telegram: t.me/bfcminvest
Facebook Page: www.facebook.com/bfcminvestment/
Web: www.bfcminvest.com