EUR/USD Declines Sharply Amid Rising German Inflation Pressure
EUR/USD is in a strong downtrend, pressured below key EMA levels. The resistance at 1.08396 acts as a roadblock, while the support at 1.07688 stands as a fortress for buyers.
The ideal strategy is to wait for the price to approach resistance for a sell position or look for a bounce signal from support for a short-term buy.
Remember to set a cautious stop-loss – a small fluctuation could change the entire market direction.
Latest news: German companies preparing to raise prices amid inflation concerns may negatively impact EUR/USD, likely causing the Euro to weaken against the USD.
The ideal strategy is to wait for the price to approach resistance for a sell position or look for a bounce signal from support for a short-term buy.
Remember to set a cautious stop-loss – a small fluctuation could change the entire market direction.
Latest news: German companies preparing to raise prices amid inflation concerns may negatively impact EUR/USD, likely causing the Euro to weaken against the USD.
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