In Wednesday's European trading session, EUR/USD hovered around the 1.0700 level. Positive sentiment from Germany's optimistic IFO data helped the Euro maintain its stronghold in the market.
Looking at it from a technical perspective on the 1-hour chart, there are indications of a downward movement in price. However, the upward trend remains robust. It's possible that the price will test the area near the Fibonacci before continuing its upward trajectory.
Looking at it from a technical perspective on the 1-hour chart, there are indications of a downward movement in price. However, the upward trend remains robust. It's possible that the price will test the area near the Fibonacci before continuing its upward trajectory.
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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.