📊TECHNICAL ANALYSIS ON 1-HOUR TIMEFRAME
A short time ago price declined to the resistance level, which coincided with the resistance zone. After this movement, it rebounded up and tried to rise, but failed and first fell back and soon broke the 1.0635 level. Also, the Euro entered into consolidation, in which it continued to decline until to support level, which coincided with the support zone. As well, the price fell lower support level to the support zone, but soon rebounded back, thereby making a fake breakout and bouncing up to the top part of the consolidation. When the price rising to the top part of the consolidation, there was a gap, after which the Euro made a little correction and continued to move up. But after the price reached the top part of the consolidation, it at once rebounded down to the 1.0490 support level. And a not long time ago, the price started to rise again and now I expect that the Euro can grow a little more and then bounce down to the support level. That's why I set up my target at this level - 1.0490.
📊QUICK FUNDAMENTAL LOOK
The dollar held firm against its peers on Thursday ahead of remarks by Federal Reserve Chair Powell as expectations grew that the U.S. central bank will keep rates higher for longer.
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