FOREX.com
FOREX.com Representative
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To introduce a more technical way of looking at EUR/USD, I will say the following.
With a lot of talk with the euro being dovish, it simply continues to go lower. Impacted by Friday's strong US job report, the EUR/USD was still not able to break lower than set resistance lines. In the past couple of weeks, the pair has been facing trouble rising above the resistance level of 1.0250 as well. Does this mean we seen the lowest for the EUR/USD?
Although the bearish run could have run its course, the possibility of an upward spike is evident as rates are peaking above the bearish trend line. If it goes through a reversal, the previous support was 1.0350. Will the CPI report be the trigger to lift the EUR/USD? We will only know when it comes out on Wednesday.
It will be interesting to see how this will impact the EUR/USD. It's important to know that all trading carries risk.
With a lot of talk with the euro being dovish, it simply continues to go lower. Impacted by Friday's strong US job report, the EUR/USD was still not able to break lower than set resistance lines. In the past couple of weeks, the pair has been facing trouble rising above the resistance level of 1.0250 as well. Does this mean we seen the lowest for the EUR/USD?
Although the bearish run could have run its course, the possibility of an upward spike is evident as rates are peaking above the bearish trend line. If it goes through a reversal, the previous support was 1.0350. Will the CPI report be the trigger to lift the EUR/USD? We will only know when it comes out on Wednesday.
It will be interesting to see how this will impact the EUR/USD. It's important to know that all trading carries risk.
