EURUSD
Technical Analysis
Eurusd have big potential to sell around 1.09574. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 1.09391 and stoploss area 1.09631
Fundamental Analysis
The euro economic condition today is still fragile. The economy is growing, but inflation is high. The ECB is expected to raise interest rates in July, but it is unclear how effective this will be in bringing down inflation. The eurozone economy is likely to remain volatile in the coming months.
Here are some additional economic indicators for the eurozone:
-Unemployment rate: 6.8% (May 2023)
-GDP growth rate: 1% (2023 forecast)
-Inflation rate: 6.1% (May 2023)
-Interest rate: -0.5% (June 2023)
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete