Pic: Key resistance and support zones on the current downtrend
The currency pair reaches the support at 1.07254 and forms a correction towards the liquidity zone, presumably it is 1.0820 - 1.08215. On the background of a strong bearish trend, which is defined by the strengthening
Resistance levels: 1.08215
Support levels: 50-MA, 1.0780, 1.0724
There is an assumption that the correction may end in the trend resistance zone, then, based on TA and fundamental background, the currency pair may continue to decline.
Regards R. Linda!
Kommentera:
False breakdown of the level. If the price fixes below 1.0780, there will be no point in waiting for a test of the channel boundary
Kommentera:
The decline continues
Trade stängt: målet nått:
Consolidation below target
The currency pair will continue its decline
The currency pair will continue its decline
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16:00 - NY Fed 1-Year Consumer Inflation Expectations - possibly discussing inflation at the moment, this data may influence the FED's view before a possible interest rate cut.