The EU is influenced by the dollar price increase
Dear friends, Escaping the upward trend has led to a significant reduction in product prices. When the Euro (EUR) appeared weak against the US Dollar (USD) on Friday, the EUR/USD traded within a narrow range around 1.0500 by the end of the week.
The greenback traded higher within the weekly range, reaching around 106.70 when measured by the US Dollar Index (DXY). The slight increase in the value of the US Dollar coincided with a muted rise in US bond yields across various time frames.
At the time of writing, the EUR is trading at 1.056, having undergone a pullback to test the breakout level and complete a trend correction, with the next target being a downward movement of EUR/USD. The price is expected to decrease towards two support levels at 1.0496 and 1.0462.
What about you? Do you agree with me?
The greenback traded higher within the weekly range, reaching around 106.70 when measured by the US Dollar Index (DXY). The slight increase in the value of the US Dollar coincided with a muted rise in US bond yields across various time frames.
At the time of writing, the EUR is trading at 1.056, having undergone a pullback to test the breakout level and complete a trend correction, with the next target being a downward movement of EUR/USD. The price is expected to decrease towards two support levels at 1.0496 and 1.0462.
What about you? Do you agree with me?
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