Technical Analysis
EURUSD have big potential to sell around 1.07349. 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 1.06468
Fundamental Analysis
The US dollar is the world's reserve currency, meaning that it is the most widely used currency in international trade and finance. It is also the currency used to denominate many global assets, such as oil and gold.
The dollar has been on a tear in recent months, reaching a 20-year high against a basket of major currencies in September 2023. This is due to a number of factors, including:
Rising US interest rates: The US Federal Reserve has been raising interest rates aggressively in an effort to combat inflation. This has made US dollar-denominated assets more attractive to investors, as they offer higher yields than similar assets in other countries.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete