Hello
I think that the euro is overbought at this price and a sell position has been created.
Here, in terms of technical analysis, a butterfly pattern has been formed. There were good resistances in the past.
From a fundamental point of view, this week the most important news of the month will be published, including the inflation index, which strongly affects supply and demand in the early hours, and strong fluctuations are formed.
I think the price will go down to at least 1.08710 and we can take about 60 pips of profit, but I still expect more downside.
I think that the euro is overbought at this price and a sell position has been created.
Here, in terms of technical analysis, a butterfly pattern has been formed. There were good resistances in the past.
From a fundamental point of view, this week the most important news of the month will be published, including the inflation index, which strongly affects supply and demand in the early hours, and strong fluctuations are formed.
I think the price will go down to at least 1.08710 and we can take about 60 pips of profit, but I still expect more downside.
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