EURUSD: Long discount has not ended
Updated
Hello dear friends!
Currently, EURUSD has started to retreat from its uptrend breakout and is now heading towards a prolonged downward journey. The price is currently trading steadily at 1.0551, with a slight increase, testing the area of operation of EMA 34 and 89. However, there doesn't seem to be any signs of recovery as there hasn't been any reversal from the two EMA lines.
Therefore, the downward trend is expected to begin soon, with price targets at 1.0496 and even lower at 1.0448.
What are your thoughts on the upcoming movement of EU?
Currently, EURUSD has started to retreat from its uptrend breakout and is now heading towards a prolonged downward journey. The price is currently trading steadily at 1.0551, with a slight increase, testing the area of operation of EMA 34 and 89. However, there doesn't seem to be any signs of recovery as there hasn't been any reversal from the two EMA lines.
Therefore, the downward trend is expected to begin soon, with price targets at 1.0496 and even lower at 1.0448.
What are your thoughts on the upcoming movement of EU?
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Note
Later in the day, the US Census Bureau will release the Retail Sales data for September. Markets expect sales to rise 0.3%, following the 0.6% growth recorded in August. A bigger-than-forecast increase could help the USD find demand with the initial reaction by highlighting healthy consumer activity.Note
Support levels: 1.0495 1.0450 1.0400Resistance levels: 1.0570 1.0610 1.0650
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