EUR/USD Strives to Regain Momentum After Previous Decline
The EUR/USD pair is currently attempting to regain momentum following the previous session's drop, trading around 1.1090 during the Asian session on Monday. However, the upward potential may be limited, as recent inflation data from the Eurozone has strengthened expectations that the European Central Bank (ECB) will proceed with an interest rate cut in the upcoming crucial policy meeting on Thursday.
Traders should take note when the price approaches key resistance or support levels as analyzed on the chart. This could be an ideal opportunity to place buy or sell orders, depending on the price’s reaction at these zones. However, remember that this is merely a trade idea. Be sure to carefully assess the market conditions and always set appropriate take-profit (TP) and stop-loss (SL) levels to protect your trading account.
Traders should take note when the price approaches key resistance or support levels as analyzed on the chart. This could be an ideal opportunity to place buy or sell orders, depending on the price’s reaction at these zones. However, remember that this is merely a trade idea. Be sure to carefully assess the market conditions and always set appropriate take-profit (TP) and stop-loss (SL) levels to protect your trading account.
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