📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The EURUSD pair shows bearish bias now to press on 1.0550 level, which urges caution from the upcoming trading, as breaking this level represents negative factor that will force the price to turn to decline and resume the main bearish trend again, to head towards testing 1.0485 initially. Therefore, we prefer to stay aside until we get clearer signal for the next trend, through breaking 1.0550 support or breaching 1.0595 resistance that will motivate the price to resume the bullish wave that its next target located at 1.0675.
📊QUICK FUNDAMENTAL LOOK
Euro fell in European trade on Monday, resuming losses against dollar after a two-day hiatus and approaching eight-month lows amid continuing concerns about a widening interest rate gap between Europe and the US. The US dollar is now gaining ground ahead of crucial US data and Fed Chair Jerome Powell's speech later today.
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