Eur suffered a devaluation compared to Usd since the end of 2021. The FED anticipated the hiking interest rates compared to the ECB, so its value strengthened and the price action was strongly bearish on this asset. Actually, the price moves around the dynamic support of the big triangle drawn but the price action will be influenced by the next national bank meetings in May.
Some tools indicate a possible bounce in this area but we can't only rely on them.
I'll check daily parameters to understand if it could be a bounce or a break-out zone.
In the first case, the price should break up the 1.10522 are to think of recuperation of the euro.*
In the second case, the main areas of price checking are around:
1)1.06382 (BEARISH)
2)1.04450 (BEARISH)
*See the short-medium Term Analysis on EUR/USD for a better understanding of the price action.
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Some tools indicate a possible bounce in this area but we can't only rely on them.
I'll check daily parameters to understand if it could be a bounce or a break-out zone.
In the first case, the price should break up the 1.10522 are to think of recuperation of the euro.*
In the second case, the main areas of price checking are around:
1)1.06382 (BEARISH)
2)1.04450 (BEARISH)
*See the short-medium Term Analysis on EUR/USD for a better understanding of the price action.
Keep updated and subscribe!