EURUSD: Approaching the 1.100 resistance level
Trend Analysys
Chart patern
2024-08-09T04:04:43+00:00
Trading Idea Description:
The EUR/USD pair briefly tested the 1.0900 level before closing near its opening value. Earlier in the week, the pair breached the 1.1000 mark, but momentum has since diminished following investor reaction to unexpected U.S. labor data released last Friday.
From a broader perspective, the pair's positive trend is expected to persist as long as it continues to trade above the 34 and 89 EMA lines.
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