EURUSD NEXT MOVE AFTER ECB RATE CUT
https://www.tradingview.com/x/6xCcEB8d/
Dear Traders
The European Central Bank sent a dovish statement and cut interest rates as predicted.
The US Dollar was supported by positive macroeconomic data and a gloomy outlook.
Long term, the EUR/USD bearish case is strengthening, but a corrective advance is still possible.
The ECB, HBOC, Hamburg Commercial Bank, and S&P Global are set to release preliminary estimates of the October Purchasing Manager Indexes (PMIs) and September Durable Goods Orders, respectively. Christine Lagarde, ECB President, has referred to soft PMIs figures in a press conference, highlighting concerns about growth. Lagarde's public appearances may influence Euro monetary policy.
EURUSD technically will continue to retest and moving up to the level of 1.0900 by reaching to this level it will respect the horizontal resistance line and Support Trend Line as well. Then it will continue bearish movement to 1.0810 for the second time as it reached to that level on 17th Oct. after breaking this level and closing a 4Hr candle below 1.0810 then 1.07850 is expected.
Sell @ 1.0900
TP @ 1.0810
SL @ 1.0950
Best of Luck
Dear Traders
The European Central Bank sent a dovish statement and cut interest rates as predicted.
The US Dollar was supported by positive macroeconomic data and a gloomy outlook.
Long term, the EUR/USD bearish case is strengthening, but a corrective advance is still possible.
The ECB, HBOC, Hamburg Commercial Bank, and S&P Global are set to release preliminary estimates of the October Purchasing Manager Indexes (PMIs) and September Durable Goods Orders, respectively. Christine Lagarde, ECB President, has referred to soft PMIs figures in a press conference, highlighting concerns about growth. Lagarde's public appearances may influence Euro monetary policy.
EURUSD technically will continue to retest and moving up to the level of 1.0900 by reaching to this level it will respect the horizontal resistance line and Support Trend Line as well. Then it will continue bearish movement to 1.0810 for the second time as it reached to that level on 17th Oct. after breaking this level and closing a 4Hr candle below 1.0810 then 1.07850 is expected.
Sell @ 1.0900
TP @ 1.0810
SL @ 1.0950
Best of Luck
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