Why didn't the euro hit the upper pressure level against the US dollar and begin to decline?
This chart shows the line chart chart of the euro against the dollar since February 2022. The graph overlays the horizontal line between the recent high point of the euro against the US dollar and the nearest pressure level, as well as the support line for the upward channel of the euro against the US dollar's low point in 2022. As shown in the figure, the recent high point of the euro against the US dollar did not reach the strong pressure level above, and then began to decline downwards, indicating that the bulls are not willing to attack! In the future, the euro is likely to rebuild a rising channel against the US dollar, and it will take a long time to consolidate before this channel is completed!
This chart shows the line chart chart of the euro against the dollar since February 2022. The graph overlays the horizontal line between the recent high point of the euro against the US dollar and the nearest pressure level, as well as the support line for the upward channel of the euro against the US dollar's low point in 2022. As shown in the figure, the recent high point of the euro against the US dollar did not reach the strong pressure level above, and then began to decline downwards, indicating that the bulls are not willing to attack! In the future, the euro is likely to rebuild a rising channel against the US dollar, and it will take a long time to consolidate before this channel is completed!