EUR/USD Closes Higher for First Time in Six Sessions Amid Dollar Slide - BitcoinEthereumNews.com
Araw-araw na EUR/USDPang-araw-araw na Swing Chart Teknikal na Pagtatasa The main trend is down according to the daily swing chart. A trade through 1.0472 will signal a resumption of the downtrend. A move through 1.0936 will change the main trend to up. This is highly unlikely, but there is room for a normal 50% to 61.8% retracement of its short-term sell-off. The minor range is 1.0936 to 1.0472. Its retracement zone at 1.0704 to 1.0759 is the nearest upside target. Since the main trend is down, sellers are likely to come in on a test of this area. Panandaliang Outlook The daily chart suggests that the line in the sand for the EUR/USD is 1.0472. If this level is taken out with conviction, the Forex pair could plunge into the January 3, 2017 main bottom at 1.0339. The Euro has dropped sharply since Russia‘s invasion of Ukraine, with investors concerned about Europe’s energy security, inflation and growth. These worries aren‘t about to go away soon, but we suspect the Fed’s rate hike has been priced in. Patuloy ang kuwento This means we could see a short-covering rally after the Feds interest rate anouncement on May 4, but gains are likely to be limited because of the other major