Forex Signal For EUR/USD: Short Term Relief Rally Expected
Forex Signal For EUR/USD: Short Term Relief Rally Expected
The pair will likely continue to rise as traders target the key resistance at 1,0650
Bull Market Look
- Buy EUR/USD and set a profit from 1,0650.
- Add a stop-loss to 1,0450.
- Timeline: 1-2 days.
Forex Signal For EUR/USD: Short Term Relief Rally Expected
Bear Market View
- Stop selling at 1,0480 and set a profit at 1,0390.
- Add a stop-loss to 1,050.
The EUR/USD pair rose to its highest level since May 11 ahead of the upcoming Eurozone consumer inflation data, and rose to 1,0560 as investors bid on a more hawkish European Central Bank (ECB).
The pair is up almost 20% from its lowest level this year.
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