EUR/USD: Calm Before the Storm
EUR/USD hovers around 1.0300, extending its three-day losing streak amid a tug-of-war in the market. The 4-hour chart reveals a sideways pattern with resistance at 1.0400 and strong support at 1.0255. The EMA 34 and 89 act as dynamic barriers, preventing any significant rebound.
Positive German industrial production data failed to lift the Euro against a resilient USD. A break below 1.0255 could push the pair toward 1.0200, while a move above 1.0400 may trigger a rally toward 1.0500. The market holds its breath, awaiting Eurozone retail sales data and Fedspeak—the missing pieces to set the next direction.
Positive German industrial production data failed to lift the Euro against a resilient USD. A break below 1.0255 could push the pair toward 1.0200, while a move above 1.0400 may trigger a rally toward 1.0500. The market holds its breath, awaiting Eurozone retail sales data and Fedspeak—the missing pieces to set the next direction.
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