The market is moving sideways after breaking the downward channel. EURUSD broke and fixed above the key level at 1.08000. The market tested the support, where the price rapidly changed direction after an impulse move down. If the price action pulls back to the support level and upward trendline, then we can look for entry signals from it. I expect some sort of rejection of the support level, followed by an upward move targeting the recent highs. My goal is the resistance at 1.08980
📊QUICK FUNDAMENTAL LOOK
The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking centre stage. The core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation - is due on Thursday, where expectations are for a 0.4% increase on a monthly basis.
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