In our past analysis, we correctly forecasted that EURUSD will go on and break the top and start a bearish move from the upper channel line. This move was triggered by the strong PCE Inflation report which increased by 0.6% month-over-month as personal spending rose 0.5%.
For this week, we expect the price to make a pullback and continue to drop at least towards the support area, that we highlighted on the chart.
The coming week will end with the NFP news event for the US Dollar, so keep an eye on all the major pairs as they might be heavily impacted.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, we expect the price to make a pullback and continue to drop at least towards the support area, that we highlighted on the chart.
The coming week will end with the NFP news event for the US Dollar, so keep an eye on all the major pairs as they might be heavily impacted.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
