EURUSD continues buying strategy, target 500 pips!
Hello wonderful friends!
Overall, EURUSD experienced significant volatility yesterday, with price gains surpassing the 1.0700 level. It is currently trading at a new high of 1.0720, highlighting a 0.2% gain on the day. So do you wonder why this currency increased so strongly?
On the move: EUR/USD clings to gains near 1.0700 early in the European session on Thursday. Renewed US dollar weakness offsets a risk-off market environment, supporting the pair ahead of key US GDP and PCE inflation data.
On the fresh outlook for EURUSD: From a technical standpoint, the analysis shows that the bearish sentiment for the pair is weakening as it has surpassed the key level of 1.0695 and the psychological level of 1.0700. It is expected that this upward price trend will continue, the target for this price increase will reach 1,618 and 2,618 which are 1.0771 - 1.0862 respectively.
Overall, EURUSD experienced significant volatility yesterday, with price gains surpassing the 1.0700 level. It is currently trading at a new high of 1.0720, highlighting a 0.2% gain on the day. So do you wonder why this currency increased so strongly?
On the move: EUR/USD clings to gains near 1.0700 early in the European session on Thursday. Renewed US dollar weakness offsets a risk-off market environment, supporting the pair ahead of key US GDP and PCE inflation data.
On the fresh outlook for EURUSD: From a technical standpoint, the analysis shows that the bearish sentiment for the pair is weakening as it has surpassed the key level of 1.0695 and the psychological level of 1.0700. It is expected that this upward price trend will continue, the target for this price increase will reach 1,618 and 2,618 which are 1.0771 - 1.0862 respectively.
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