EURUSD: Trend is unclear!

RKarina Updated   
FX:EURUSD   Euro / U.S. Dollar
Hi everybody,

EUR/USD is approaching a key zone near 1.0650, after a fairly quiet Tuesday when the pair remained largely unchanged, awaiting a series of upcoming economic data. Both the US and the Eurozone are preparing for the release of Purchasing Managers' Index (PMI) figures next Tuesday, while key US figures will be released later. week, amid speculation about the possibility that the US Federal Reserve (Fed) will cut interest rates.

In the current context, a triangle pattern may appear on the chart, and the possibility of a breakdown of this pattern is very high, leading to a clear change in either direction. While the 34 and 89 EMA lines are still not showing clear signals because they are located right in the current operating zone of EUR/USD, closely monitoring new information will be the key to determining the next trend. according to this currency pair.

I am hoping for a positive development. How about you?
Trade active
Trade active

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.