Market Overview:
The CPI m/m was reported at 0.3%, higher than the expected 0.2%, boosting expectations that the Fed will continue to raise interest rates. Despite the strengthening USD, EURUSD continues its uptrend due to strong price structure and technical support in the short term.
Technical Analysis:
EURUSD is currently trading in an upward price channel, with strong support at 1.15800 USD. If the price maintains above this level, there is a high chance it will test the resistance at 1.16863 USD. If this resistance is broken, the price could continue to rise towards 1.17500 USD.
The chart shows that the upward price structure is supporting the trend, forming higher highs and higher lows, signaling the continuation of the bullish trend.
The CPI m/m was reported at 0.3%, higher than the expected 0.2%, boosting expectations that the Fed will continue to raise interest rates. Despite the strengthening USD, EURUSD continues its uptrend due to strong price structure and technical support in the short term.
Technical Analysis:
EURUSD is currently trading in an upward price channel, with strong support at 1.15800 USD. If the price maintains above this level, there is a high chance it will test the resistance at 1.16863 USD. If this resistance is broken, the price could continue to rise towards 1.17500 USD.
The chart shows that the upward price structure is supporting the trend, forming higher highs and higher lows, signaling the continuation of the bullish trend.
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Related publications
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.
Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.