Update on Previous Analysis
Since there are no major economic events scheduled for today, we expect lower volatility and a relatively calmer market, unless any unexpected news hits the wires.
Looking at the chart, price is still moving within a descending channel, and it's currently reacting around a key zone — an area of previous price congestion that also aligns with the midline of the channel.
Our bias remains bearish on the euro, unless the market gives us clear bullish reversal signals. Until then, we continue to follow the trend.
Since there are no major economic events scheduled for today, we expect lower volatility and a relatively calmer market, unless any unexpected news hits the wires.
Looking at the chart, price is still moving within a descending channel, and it's currently reacting around a key zone — an area of previous price congestion that also aligns with the midline of the channel.
Our bias remains bearish on the euro, unless the market gives us clear bullish reversal signals. Until then, we continue to follow the 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.