As it can be interpreted from the chart analysis, the overall trend of the pair is strongly bearish, as the price has been dropping for a couple of months now. While the price is ranging within the boundaries of a formed triangle pattern, we are positive that the lower boundary of the formed pattern will be broken and bearish moves will resume. If the price successfully breaks out of the triangle, the price will drop all the way down till the previous Lower Low (1.118) and even deeper down.
On the fundamental side of the events, we have some important economic news this week. We will have FED make a decision on the interest rates on the 15th, and the European Central Bank make decisions on the 16th. If everything goes according to the plan and nothing extraordinary takes place, EUR/USD will drop even further and make new Lower Lows.
Happy trading, everyone!
On the fundamental side of the events, we have some important economic news this week. We will have FED make a decision on the interest rates on the 15th, and the European Central Bank make decisions on the 16th. If everything goes according to the plan and nothing extraordinary takes place, EUR/USD will drop even further and make new Lower Lows.
Happy trading, everyone!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.