EURUSD 4H (still under sell pressure)

EURUSD

OUTLOOK

The central bank is still struggling to control high inflation in the euro area, and confirmed its adherence to the path of monetary tightening until the medium-term inflation target of 2% is achieved.

But he linked any additional increases in European interest rates to the extent of the development of economic data before any monetary policy meeting during the coming period, and therefore any increase in inflation rates undoubtedly means raising interest rates to new historical levels since they have not occurred since 2008.

Currently , The price of EURUSD trade under resistance area 1.0825 after tried to break and couldn't due to the bad situation in Europe and Dollars strength

so now as we see in the chart as long as price trade under 1.0825 the direction will be downtrend but to confirm that should stable under 1.0780 and then will support the price to reach 1.0740

as for renewing the bullish attempts, this requires the price to stable above 1.0850 to get a positive momentum and then will support the price to reach 1.0903 and 1.0950

Expect range trading for today it will be between the resistance line 1.0825 and support line 1.0780 until breaking one of them

Additionally , the news will affect the market directly .

support line 1.0780 , 1.0740
resistance line : 1.0825 , 1.0850


Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️