The EU continues to undergo pressure due to strong USD
Updated
Hello dear friends!
Today, the Euro (EUR) seems weak against the US Dollar (USD) on Friday, causing the EUR/USD to trade within a narrow range around the 1.0500 level at the opening of the European trading session.
The greenback managed to maintain trading at higher levels within the weekly range, near 106.70 as measured by the USD Index (DXY). The slight increase in the value of the US Dollar is accompanied by a mild, but noticeable, increase in US bond yields across different time frames.
On the 4-hour chart, the uptrend line has been broken and the ema 34 signal is reversing. The price has experienced a retracement back to test the breakout area and complete a trend correction, with the next target being a downward journey for EUR/USD.
Karina has established two clear targets on the chart, which are two support levels at 1.050 and 1.046.
Today, the Euro (EUR) seems weak against the US Dollar (USD) on Friday, causing the EUR/USD to trade within a narrow range around the 1.0500 level at the opening of the European trading session.
The greenback managed to maintain trading at higher levels within the weekly range, near 106.70 as measured by the USD Index (DXY). The slight increase in the value of the US Dollar is accompanied by a mild, but noticeable, increase in US bond yields across different time frames.
On the 4-hour chart, the uptrend line has been broken and the ema 34 signal is reversing. The price has experienced a retracement back to test the breakout area and complete a trend correction, with the next target being a downward journey for EUR/USD.
Karina has established two clear targets on the chart, which are two support levels at 1.050 and 1.046.
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