EURUSD Analysis
EURUSD has reached the horizontal support area in the 4-hour timeframe chart.
In the 1-hour timeframe, EURUSD hit the lower low area of the descending channel.
After the confirmation of the Upward movement, EURUSD Buy signal given.
EURUSD Update
EURUSD is trying to break the horizontal support area without any rebound which leads to the SL price. Reason: Inflation data came positive 8.5% this month which makes the US Dollar strong,
Another reason: China 2nd largest to US economy made a lower interest rate decisions due to Covid-19 lockdowns and the Real estate crisis. it also boosted the US Economy more. This is the reason the US dollar is fundamentally staying strong over all currency pairs.
Don’t trade all the time, trade forex only at the confirmed trade setups.
Get more confirmed trade setups here: forexgdp.com/forex-signals/
