Alexia greets everyone!
This currency pair has formed a series of higher highs and higher lows on the daily timeframe, highlighting its potential for price appreciation.
Regarding market news:
Currently, the Greenback is facing downward pressure, causing the US Dollar Index (DXY) to break below the 105.00 support level amidst improved risk sentiment across the board. The persistent weakness of the Greenback contrasts with the slight recovery in US interest rates across different maturities.
In terms of monetary policy, growing consensus has emerged among market participants that the Federal Reserve may maintain the current monetary conditions unchanged for the time being, as the likelihood of a rate adjustment in December seems to have lost some particular momentum following the latest FOMC meeting and Friday's release of weaker-than-expected nonfarm payroll data for October.
Alexia's personal view:
The upward trend continues with observed corrections at 1.0806 higher than levels at 1.0865 and 1.1025.
This currency pair has formed a series of higher highs and higher lows on the daily timeframe, highlighting its potential for price appreciation.
Regarding market news:
Currently, the Greenback is facing downward pressure, causing the US Dollar Index (DXY) to break below the 105.00 support level amidst improved risk sentiment across the board. The persistent weakness of the Greenback contrasts with the slight recovery in US interest rates across different maturities.
In terms of monetary policy, growing consensus has emerged among market participants that the Federal Reserve may maintain the current monetary conditions unchanged for the time being, as the likelihood of a rate adjustment in December seems to have lost some particular momentum following the latest FOMC meeting and Friday's release of weaker-than-expected nonfarm payroll data for October.
Alexia's personal view:
The upward trend continues with observed corrections at 1.0806 higher than levels at 1.0865 and 1.1025.
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