EUR/USD:Has EUR/USD started to stop the decline and rebound?
Updated
Fundamentally, the market believes that the probability of the ECB's terminal interest rate of 4.25% this year is 65%, while last week's terminal interest rate was only 4.00%.The European Central Bank's hawkish bets may help the euro limit its losses in the short term.
https://www.tradingview.com/x/XzY41Uvf/
On the technical side, EUR/USD has rebounded since hitting a low near 1.0530 last week. It has now crossed above the short-term moving average, and technical indicators have also shown signs of a low turning point, indicating that there are some buying orders in this position.However, at present, EUR/USD is still subject to the resistance of the previous support level of 1.058. If this position can be broken through, buyers may show interest, so that the rebound and upward trend can continue, and EUR/USD may expand the rebound to the 1.063 position; according to the current market, the 1.053 position seems to have formed support, and the market will definitely be tested repeatedly in the future. If repeated tests determine that the support is effective, EUR/USD is expected to form a structural arc bottom, which is conducive to the rebound of EUR/USD and constitutes a new round of upward channels.
If you encounter resistance in the 1.058-1.063 area during the rebound process, you may continue to test the effectiveness of the support at the 1.053 position. Once the support is shown to be invalid, beware of the risk of a downward trend in the EUR/USD market.
Overall, EUR/USD is safe, try to short as high as possible, and it can be shorted at the position of 1.063.
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EURUSDEURUSD
US500
https://www.tradingview.com/x/XzY41Uvf/
On the technical side, EUR/USD has rebounded since hitting a low near 1.0530 last week. It has now crossed above the short-term moving average, and technical indicators have also shown signs of a low turning point, indicating that there are some buying orders in this position.However, at present, EUR/USD is still subject to the resistance of the previous support level of 1.058. If this position can be broken through, buyers may show interest, so that the rebound and upward trend can continue, and EUR/USD may expand the rebound to the 1.063 position; according to the current market, the 1.053 position seems to have formed support, and the market will definitely be tested repeatedly in the future. If repeated tests determine that the support is effective, EUR/USD is expected to form a structural arc bottom, which is conducive to the rebound of EUR/USD and constitutes a new round of upward channels.
If you encounter resistance in the 1.058-1.063 area during the rebound process, you may continue to test the effectiveness of the support at the 1.053 position. Once the support is shown to be invalid, beware of the risk of a downward trend in the EUR/USD market.
Overall, EUR/USD is safe, try to short as high as possible, and it can be shorted at the position of 1.063.
In order to facilitate you to continue to follow up on my analysis and sharing, you can like and follow me. In addition, you can enter my channel for free in the following ways to follow real-time views and operational strategies.
EURUSDEURUSDUS500Trade active
All rebound markets need to be based on the premise that the support is effective, so there is still a situation of stepping back to test the support in the future market, so the operation is mainly based on high altitude.Trade active
Currently EUR/USD is retracing, waiting for transactional opportunities
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