EUR/USD cycles below 1.1000 in pre-holiday market churn
Updated
Hello brave friends!
The EUR/USD exchange rate dropped lower on Wednesday, returning to 1.0930 by the end of the day after slipping below the opening price of around 1.0980, with the rate being capped just below 1.1000.
The market is generally facing risks as US consumer confidence and current sales figures exceeded expectations, causing some disadvantages for EURUSD to continue rising.
Long-term prospects still lean towards an upward trend, but in the short term, there may be a price correction downwards towards the support level of 1.089. If it drops below 1.0880, it indicates a stronger possibility of a deeper correction.
The EUR/USD exchange rate dropped lower on Wednesday, returning to 1.0930 by the end of the day after slipping below the opening price of around 1.0980, with the rate being capped just below 1.1000.
The market is generally facing risks as US consumer confidence and current sales figures exceeded expectations, causing some disadvantages for EURUSD to continue rising.
Long-term prospects still lean towards an upward trend, but in the short term, there may be a price correction downwards towards the support level of 1.089. If it drops below 1.0880, it indicates a stronger possibility of a deeper correction.
Trade active
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.