On Wednesday, Euro fell sharply and fell below the price of 1.1500. The CPI of the United States rose 6.2% year-on-year in October, triggering a chain reaction in an instant. Dollar rose sharply and Euro crashed. Germany’s October inflation rate rose to 4.5% from 4.1% in September. High inflation suppressed market confidence.
From a technical perspective, Euro’s daily candle close bearish marubozu candle and bearish sentiment dominates the market. The indicators are bearish across the board. H4 graph shows that Euro show a quick drop and broke through the lower BOLL band. MACD volume also decreased. Overall, prioritise SELL within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point is near 1.1500.
Resistance：1.1500-1.1530-1.1550
Support：1.1450-1.1430-1.1400
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