EU has been on a bullish trend for the past week, driven by US weak economic data and the FEDs dovish-neutral stance in recent interviews. This bullish trend may be a result of the policy lag effect, although additional confirmation from economic data is required.
On the technical front, the DXY has been bearish, notably trading below 106.00 and potentially signaling a substantial bearish confirmation if it trades below 105.00. EURUSD is currently in a retracement phase and rejecting the previous high.
It's essential to remain updated about the potential shifts in the market trend. Staying informed and exercising caution is paramount.
Stay tuned for further updates.
On the technical front, the DXY has been bearish, notably trading below 106.00 and potentially signaling a substantial bearish confirmation if it trades below 105.00. EURUSD is currently in a retracement phase and rejecting the previous high.
It's essential to remain updated about the potential shifts in the market trend. Staying informed and exercising caution is paramount.
Stay tuned for further updates.
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