In the Asian session on Tuesday, the US dollar index remained stable above the 90 mark, and the EURUSD was also stable which is now at around 1.2180. European Union announced that the Investor Confidence Index on June was higher than expected, rising to 28.1 from 21 last month. Officials of the European Central Bank stated that the European Central Bank is not in a hurry to adjust its emergency bond purchase plan (PEPP) and will continue to maintain a loose monetary policy.
From a technical perspective, the Euro continued to rebound after a slight adjustment yesterday. The daily line closed with a small bullish candle, and from the structure we can see that the daily candle is still under pressure. From the 4H point of view, the middle band of the Bollinger band was lower and the MACD is around the zero axis and moved near the Golden Cross, and a preliminary bearish trend was formed. Overall, prioritise sell on high on fluctuation zones. The chart below shows the key points and the estimated trend. The short term deciding point for bull and bear is at around 30000
Resistance：1.2200-1.2230-1.2265
Support：1.2160-1.2130-1.2100
Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.