EURUSD Bearish Triangle Breakout and Forecast
Fundamentals:
Powell’s testimony on monetary policy was quite optimistic pointing out the recent inflation readings are encouraging
On the Euro side, we will have June inflation figures.
On the US side, Housing Starts and Building Permits will be released.
Technically:
As seen on the H4 Chart, EURUSD is breaking out the Bearish Triangle. The price moved below EMA 50 and EMA 100.
1.16270 is the first support. 1.15980 and 115670 and 1.15380 will be the next target of the pair.
Powell’s testimony on monetary policy was quite optimistic pointing out the recent inflation readings are encouraging
On the Euro side, we will have June inflation figures.
On the US side, Housing Starts and Building Permits will be released.
Technically:
As seen on the H4 Chart, EURUSD is breaking out the Bearish Triangle. The price moved below EMA 50 and EMA 100.
1.16270 is the first support. 1.15980 and 115670 and 1.15380 will be the next target of the pair.
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