EUR/USD BULLISH SETUP WITH NEGATIVE ADP
On EUR/USD, we have a bullish setup in the H4 timeframe. The price is currently within a range between 1.0980 and 1.0280. The expectation is for a bounce from the lower side of the range, around the 1.0980 area, where we have a trendline support, a Fibonacci retracement level (FVG), and a 50-period Exponential Moving Average (EMA) acting as support. This could trigger the beginning of a long trade with a target at 1.11.
This scenario might be further influenced by today afternoon's anticipated negative data from the United States, which could lead to a depreciation of the dollar. Let me know your thoughts. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
This scenario might be further influenced by today afternoon's anticipated negative data from the United States, which could lead to a depreciation of the dollar. Let me know your thoughts. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
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