EURUSD is still in decline

EURUSD is still in decline


EURUSD

Yesterday we saw that the released data introduced a lot of uncertainty on this currency pair. Investors completely did not know how to interpret them and after the initial breakout, the price returned to its main trend. Today there is also a lot of macro data that will have a greater or lesser impact on the price. There is no single direction that I can point to as the data forecasts are slightly different from previous readings. This means that the market is at a constant macroeconomic level, and countries are equally implementing the plan in this phase of the pandemic.

I've marked two levels in the painting. The first is a break that already took place yesterday but was not maintained. Breakouts when reading the macro data should be taken into account with a correction, because at that time the market is not behaving naturally. The second level is the resistance that could be the key to reversing this slow downtrend.

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Biznes-Broker
Biznes-Broker

Trader, cryptocurrency and forex market analyst. Editor of investor magazines: EN: http://biznes-broker.com/ PL: http://pvq.pl/


Analysis of the financial markets
Analysis of the financial markets

Subjective view of the financial market. Mainly Forex, Indexes and Commodities. Analyzes based on technical analyzes. All analyzes are my view of the market. It is not recommended to make trading decisions based on the information provided. You can check my work here: EN: http://biznes-broker.com/ PL: http://pvq.pl/

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