The EUR/USD continues to remain within a bearish channel, and as anticipated, the price reacted accordingly yesterday. Our analysis suggests that a new bearish impulse is expected for the EUR/USD, while simultaneously projecting a bullish scenario for the USD/JPY pair. We anticipate that the price of the EUR/USD will continue to decline, resulting in an increase in the value of the USD.
The ongoing bearish channel in the EUR/USD indicates a prevailing downward trend, where selling pressure outweighs buying pressure. This trend aligns with our projection of a new bearish impulse in the pair, indicating a potential continuation of the downward movement.
Simultaneously, we anticipate a bullish scenario for the USD/JPY pair, implying that the value of the USD is expected to rise against the Japanese Yen. This projection aligns with our analysis of the USD gaining strength across the broader market.
The ongoing bearish channel in the EUR/USD indicates a prevailing downward trend, where selling pressure outweighs buying pressure. This trend aligns with our projection of a new bearish impulse in the pair, indicating a potential continuation of the downward movement.
Simultaneously, we anticipate a bullish scenario for the USD/JPY pair, implying that the value of the USD is expected to rise against the Japanese Yen. This projection aligns with our analysis of the USD gaining strength across the broader market.
