Hello Traders,
In this analysis, we will have a look at the EURUSD in the 4-hour chart.
The euro has been recovering from its nasty spill since early February, it has lost almost 800 pips.
At this stage, I think there is still a little more downside to come after a moderate correction. Keep in mind that we have this week a lot of fundamental data outcome.
Starting with the Singapore meeting from Trump and Kim. So any significant outcome will move the markets. Especially, the DXY and the equity markets.
With that said I think we still can see more upside in short-term to the areas of around the 1.20 levels before more downside can occur.
Alternatively, when EURUSD breaks the rising trendline to the downside for any reason now. I would not be surprised to see a retest of the lows at around 1.1510.
Also, keep in mind that we have this week also the FOMC rate decision and the ECB interest rate decision. So the EURUSD will get a lot of volatility this week either way.
In this analysis, we will have a look at the EURUSD in the 4-hour chart.
The euro has been recovering from its nasty spill since early February, it has lost almost 800 pips.
At this stage, I think there is still a little more downside to come after a moderate correction. Keep in mind that we have this week a lot of fundamental data outcome.
Starting with the Singapore meeting from Trump and Kim. So any significant outcome will move the markets. Especially, the DXY and the equity markets.
With that said I think we still can see more upside in short-term to the areas of around the 1.20 levels before more downside can occur.
Alternatively, when EURUSD breaks the rising trendline to the downside for any reason now. I would not be surprised to see a retest of the lows at around 1.1510.
Also, keep in mind that we have this week also the FOMC rate decision and the ECB interest rate decision. So the EURUSD will get a lot of volatility this week either way.