EURUSD is currently in a minor downtrend after breaking the support of the ascending channel on the daily timeframe. However, the price has not shown strong bearish momentum, indicating that there may not be significant selling pressure.
I anticipate that the price will continue to drop this week as the
DXY
DXY (US Dollar Index) rallies up, as EURUSD and DXY are inversely correlated. It's important to note that market conditions can change quickly, and this projection may be invalidated if more buyers take control of EURUSD.
What are your thoughts on this? Feel free to like and comment below.
I anticipate that the price will continue to drop this week as the
DXY
DXY (US Dollar Index) rallies up, as EURUSD and DXY are inversely correlated. It's important to note that market conditions can change quickly, and this projection may be invalidated if more buyers take control of EURUSD. What are your thoughts on this? Feel free to like and comment below.
