Dear friends, escaping the price hike channel has led the product into a downturn. Currently, the price is trading at 1.0556, and traders will seek signals from Germany's growth data, as well as inflation and GDP data from the Eurozone, ahead of the reserve meeting. The Union is eagerly awaited on Wednesday. For this reason, EUR sellers will continue to sell.
As for the US dollar, the Federal Reserve is expected to keep interest rates unchanged at the end of the two-day meeting on Wednesday. Last month, Fed Chair Jerome Powell stated that inflation remains too high, raising expectations that additional interest rates could be applied by the end of this year. This means that higher long-term interest rates in the US could strengthen the USD and serve as a resistance level for the EUR/USD pair.
Regarding technical analysis: The downward trend is highly regarded, so my anticipated decline is at 1.0495. What are your thoughts on this matter? Do you agree with me?
As for the US dollar, the Federal Reserve is expected to keep interest rates unchanged at the end of the two-day meeting on Wednesday. Last month, Fed Chair Jerome Powell stated that inflation remains too high, raising expectations that additional interest rates could be applied by the end of this year. This means that higher long-term interest rates in the US could strengthen the USD and serve as a resistance level for the EUR/USD pair.
Regarding technical analysis: The downward trend is highly regarded, so my anticipated decline is at 1.0495. What are your thoughts on this matter? Do you agree with me?
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