EURUSD Analysis (H4 Chart)
The pair are trending in an ascending wedge, although the rising trajectory looks much more choppier than trending
The prices are correcting after the upper zone of the wedge, while testing the fib level 0.5 and the 200 EMA.
Currently the cluster of EMAs - 20/50/100 are creating a strong support for the EUR bears
But a breakout of the EMAs below 1.1428 will drive prices further lower towards lower end of the wedge near 1.1400 - 1.1390 zone
Soft inflation reading in the EU region and strong safe haven demand of US dollar due to the ongoing war might further punish the EURUSD pair
The pair are trending in an ascending wedge, although the rising trajectory looks much more choppier than trending
The prices are correcting after the upper zone of the wedge, while testing the fib level 0.5 and the 200 EMA.
Currently the cluster of EMAs - 20/50/100 are creating a strong support for the EUR bears
But a breakout of the EMAs below 1.1428 will drive prices further lower towards lower end of the wedge near 1.1400 - 1.1390 zone
Soft inflation reading in the EU region and strong safe haven demand of US dollar due to the ongoing war might further punish the EURUSD pair
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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.