EURUSD: The bearish trend remains intact
EUR/USD Holds Steady Above 1.0700 Amid Mixed Sentiment Data
On Tuesday, EUR/USD remains within its daily range above 1.0700 during the European session, following a positive close on Monday. Mixed ZEW sentiment data from Germany and the Eurozone has left the Euro struggling to find demand, with market focus now shifting towards upcoming U.S. economic data.
From a technical perspective, the bearish momentum persists. The trend continues to favor sellers, and the EMA 34 and 89 indicators are holding steady. After completing a retracement to the 0.618 Fibonacci level, EUR/USD is resuming its downward trend.
Happy trading, everyone!
On Tuesday, EUR/USD remains within its daily range above 1.0700 during the European session, following a positive close on Monday. Mixed ZEW sentiment data from Germany and the Eurozone has left the Euro struggling to find demand, with market focus now shifting towards upcoming U.S. economic data.
From a technical perspective, the bearish momentum persists. The trend continues to favor sellers, and the EMA 34 and 89 indicators are holding steady. After completing a retracement to the 0.618 Fibonacci level, EUR/USD is resuming its downward trend.
Happy trading, everyone!
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