Fundamental Backdrop
1. Red news today like the Empire State Manufacturing Index could potentially result in a pullback for EURUSD before heading bullish again.
2. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies.
3. Furthermore, USD economic data has been relatively soft and showcasing signs that inflation is slowing down significantly, which is a bullish driver of EURUSD.
Technical Confluences
1. H4 support at 1.08764.
2. EURUSD continues to be on a bullish uptrend.
3. Structure has most recently broken.
Idea
Anticipate a pullback and for price to potentially head higher to retest 1.1076.
1. Red news today like the Empire State Manufacturing Index could potentially result in a pullback for EURUSD before heading bullish again.
2. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies.
3. Furthermore, USD economic data has been relatively soft and showcasing signs that inflation is slowing down significantly, which is a bullish driver of EURUSD.
Technical Confluences
1. H4 support at 1.08764.
2. EURUSD continues to be on a bullish uptrend.
3. Structure has most recently broken.
Idea
Anticipate a pullback and for price to potentially head higher to retest 1.1076.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.