The US dollar index continued to rise on Friday, with a weekly gain of nearly 2%, registering its biggest weekly gain in 15 months. After Euro fell below 1.2000, Euro continued to fall under pressure. Earlier this week, the Fed unexpectedly signaled that it would raise interest rates and end plans for emergency bond purchases ahead of schedule, sparking a rally in the dollar. European Central Bank President Lagarde will speak at the European Parliament's Committee on Economic and Monetary Affairs on Monday. With increasing vaccination rates, the process of economic recovery in Europe has accelerated. From a technical point of view, the Euro weekly candle is bearish, and the daily candle continues to weaken dropping below the 1.1900 last Friday. The bearish sentiment is strong. H4 graph shows a downward gap and all indicators show bearish sign with no signs of stabilisation. Overall, prioritise selling within the fluctuation zone. The deciding point whether to buy or sell is near 1.1880
Resistance：1.1880-1.1920-1.1980
Support：1.1840-1.1800-1.1750
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice.