Market Analysis of EURUSD on Wednesday July 21 2021

2021-07-21 13:40Source:BtcDana

On Tuesday, Euro continued to fall, hitting the lowest point at around 1.1755. USD rose reaching the highest point at around 93.12 which is the highest since April 5. As Europe is concerned about the spread of Delta variant, the economic outlook is changing rapidly. This is also the main pressure of most member states at present, and the unexpected rise in inflation made market worried that the European Central Bank may delay the announcement of new policy. From a technical point of view, Euro’s daily line continues to be under pressure and has repeatedly hit new lows. The market is weak. Around 1.1700 is the previous support that has become the key support point now. H4 graph showed that the downward structure is still complete, and the fluctuation range is narrowing. Currently, f Euro can't move up or break down. Beware of sudden shift in market direction. Overall prioritise sell on high on the fluctuation zone. The deciding point whether to buy or sell is near 1.1750 


https://asset.ycxfy.com/upload/file/1626796800000/1626849156061.png

Resistance:1.1800-1.1825-1.1850

Support:1.1750-1.1700-1.1650


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