Hello,
The EURUSD pair has experienced a notable uptrend recently, catching the attention of the European Central Bank (ECB). On Friday, ECB President Christine Lagarde commented, "Despite global market volatility, euro zone financial markets are performing robustly. The ECB stands ready to utilize its tools to ensure financial stability if needed." This suggests that a stronger euro may pose challenges for the ECB at this time.
Technically, the EURUSD is forming an expanding triangle pattern and is currently trading near its upper trendline. While we anticipate continued pressure on the euro—partly due to the U.S. favoring a weaker dollar—there is potential for a minor correction on shorter timeframes. Below, we outline a potential trading opportunity based on this analysis.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
The EURUSD pair has experienced a notable uptrend recently, catching the attention of the European Central Bank (ECB). On Friday, ECB President Christine Lagarde commented, "Despite global market volatility, euro zone financial markets are performing robustly. The ECB stands ready to utilize its tools to ensure financial stability if needed." This suggests that a stronger euro may pose challenges for the ECB at this time.
Technically, the EURUSD is forming an expanding triangle pattern and is currently trading near its upper trendline. While we anticipate continued pressure on the euro—partly due to the U.S. favoring a weaker dollar—there is potential for a minor correction on shorter timeframes. Below, we outline a potential trading opportunity based on this analysis.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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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.
Free stock markets analysis Telegram channel:
t.me/stocksfromtechnicaleye
Paid trading group
patreon.com/thesharkke
Reliable broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
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.