EURUSD
In the U.S. market on Monday, the USD index was suddenly sold off and fell below the 90 mark causing Euro, GBP and JPY rose rapidly in the short term. Germany released preliminary estimates of inflation data for May, which was better than expected. The consumer price index rose 2.5% year-on-year and 0.5% month-on-month. The EU announced that the M3 money supply contracted to 9.2% year-on-year in April, which was lower than market expectations and this supports the price of Euro. From a technical point of view, the euro rebounded after the fluctuation. The bulls closed with a mid-sized bullish candle and bullish sentiment strengthen. Euro faced resistance from 1.2270 which was the previous high. H4 graph shows that the candle operates on the upper side of the middle BOLL band, and the Golden Cross formed near the zero axis of the MACD. Overall prioritise Buy on low on the fluctuation zone. The deciding point whether to buy or sell is near 1.2260.
Resistance：1.2260-1.2300-1.2350
Support：1.2200-1.2170-1.2130
Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.