EUR/USD: Key Levels and Short-Term Outlook

3月21日

Recently, although inflation data in the United States has declined, it remains elevated, and the labour market continues to be tight. The Federal Reserve may maintain a hawkish stance, which is supportive of the US dollar. Meanwhile, the economic recovery in the eurozone has slowed. Weak manufacturing PMI data has dampened business and consumer confidence, exerting downward pressure on the euro.

From the 4-hour candlestick chart, EUR/USD is currently in a triangular consolidation pattern, with the price hovering around 1.08343. The resistance zone lies between 1.08760 and 1.09090, whilst the first support level is at 1.08067 and the second at 1.07528. In this context, EUR/USD is more likely to test the support levels in the short term.

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3月22日

交易進行

As mentioned, the EUR/USD price is approaching the first support level.

If the profit is sufficient, you may consider closing the position early.

Traders, if this approach aligns with your trading style or if you have your own insights, please share them in the comments—I’m eager to hear your thoughts!