The EUR/USD has
gained a sum of 700 pips against the USD since the mid June. The euro has been
sailing in the appropriate trend as by its economy.
Hence, this slump of USD
does work out with the other pairs too. As, it is a major currency, it
struggles to revive from this decline. But, the trend indicator of moving
average is filtering the trend as long.
This “long” will continue until to
reach the resistance of 1.33572. There will be sequential economic releases for
the USD on today.
This would make USD to gain when the releases show favor to
the USD. If not providing any stimulus to USD, it will continue the trend to
buy.
The price of this pair is currently in the oversold and predicting to
achieve some good resistance. The uncertainty of the market will be revealed
only after the news releases. If the trend supports the USD, then it is
possible to grab 70+ pips.
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