empty
 
 
27.06.2022 05:38 PM
EUR/USD: attention at resistance

The EUR/USD pair rallied at the time of writing as the Dollar Index dropped again. DXY's further drop towards 103.41 former low should force the USD to depreciate versus its rivals. The index signaled that the upside is limited, so a deeper drop is in the cards.

Surprisingly or not, the USD depreciates even if the US data came in better than expected earlier today. The Pending Home Sales rose by 0.7% versus a 3.5% drop expected, Durable Goods Orders surged by 0.7% compared to the 0.1% growth estimated, while the Core Durable Goods Orders registered a 0.7% growth exceeding the 0.4% growth forecasted. Maybe the greenback drops as the US CB Consumer Confidence is expected to drop from 106.4 points to 100.0 points.

EUR/USD Breakout Attempt!

This image is no longer relevant

As you can see on the H1 chart, the rate continued to increase along the broken uptrend line. Now, it challenges this dynamic resistance as well. The price pressures the 1.0601 static resistance, so it remains to see how it will react around these strong resistance levels.

Taking out the resistance levels may signal an upside continuation. On the other hand, registering only false breakouts indicates that the leg higher ended and that the EUR/USD pair could turn to the downside.

EUR/USD Outlook!

Jumping, closing, and stabilizing above the weekly R1 (1.0620) could activate further growth and could bring a new buying opportunity with a major upside target at 1.0757.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Octubre, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback