On Monday, Euro fell to 1.1553. The Federal Reserve’s debt reduction and interest rate hikes are expected to support the U.S. Index to maintain its strength. The European Central Bank, the Bank of England, the Bank of Canada, and the Reserve Bank of Australia, etc., are all expected to tighten monetary policy will support the currency. However, the strengthening dollar index will make these currencies weaker in comparison.
Technically, Euro’s weekly candle closed bearish, and last Friday, EURUSD forms a huge bearish candle. H4 graph shows that the BOLL band opened and break key resistance. All indicators were bearish across the board. Overall, prioritise Sell within the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1530.
Resistance：1.1580-1.1600-1.1630
Support：1.1530-1.1500-1.1450
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