Selling pressure of Euro further intensified on Tuesday, and Euro fell below 1.1800. In contrast, the United States reduced quantitative easing program earlier than expected. The positive fundamentals of Euro Zone have weakened the support for Euro. There are too many problems in the Euro Zone including the asymmetric economic recovery, and the sustainability of the rebound in inflation data as well as the progress of the delta virus variants and the speed of the vaccination campaign. There may be a political bubble surrounding the EU Recovery Fund. The election in Germany and so on are all the worries of the market. From a technical point of view, From a technical point of view, Euro's daily candle forms a bearish candle and reached a new low. Bearish sentiment dominates the market. H4 graph shows a downwards trend and all indicators show bearish signs. Overall prioritise buy on low the fluctuation zone. The deciding point whether to buy or sell is near 1.1800.
Resistance：1.1800-1.1830-1.1880
Support：1.1750-1.1700-1.1650
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