📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The EURUSD pair didn’t show any strong move since morning, to hover around 1.0660 level, thus, no change to the expected bearish trend scenario for today, which depends on the price stability below 1.0685, while its targets begin by breaking 1.0635 to open the way to head towards 1.0515. The expected trading range for today is between 1.0570 support and 1.0725 resistance.
📊QUICK FUNDAMENTAL LOOK
Euro rose in European trade on Monday against a basket of major rivals, extending recovery for the second day off six-month lows against dollar. The gains remain rather limited amid grim outlook for the euro's future following the recent European Central Bank's meeting and the hints of reaching neutral interest rates, which threatens to widen the interest rate gap between the US and Europe.
EUR/USD rose 0.2% to 1.0677, with a session-low at 1.0658, after rising 0.2% on Friday, the first profit in three days, off six-month lows at 1.0632. Euro lost 0.4% last week, the ninth weekly loss in a row and the longest such streak of weekly losses in euro's history.
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