EURUSD : The downtrend will return ?
Hello everyone,
Today, EURUSD continues to hover around the familiar level near 1.071, still entrenched in a long-term downtrend.
On the trend front: We are anticipating important updates from the Eurozone with the release of the HCOB Manufacturing Purchasing Managers' Index (PMI). This data could provide fresh insights into the next moves for EURUSD.
In the short term: Today, EURUSD has exited its uptrend channel and retested the old trend line and breakout area, suggesting that sellers are gaining the upper hand. A selling strategy is favored until the end of the day, before the news is released.
Wishing you successful trading!
Today, EURUSD continues to hover around the familiar level near 1.071, still entrenched in a long-term downtrend.
On the trend front: We are anticipating important updates from the Eurozone with the release of the HCOB Manufacturing Purchasing Managers' Index (PMI). This data could provide fresh insights into the next moves for EURUSD.
In the short term: Today, EURUSD has exited its uptrend channel and retested the old trend line and breakout area, suggesting that sellers are gaining the upper hand. A selling strategy is favored until the end of the day, before the news is released.
Wishing you successful trading!
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