Obviously, the market is moving sideways in anticipation of the upcoming news. On the 4H timeframe, we can see a clear range zone. EURUSD is building the liquidity zones above and below it. I think the market might move upward first and then downward after the actual numbers come out. If the news is negative for the DXY, then we can expect the price to be around 1.08000 resistance levels. Price action formed a triangle pattern, which is usually a trend continuation pattern. A fake breakout of it may potentially lead to a massive bearish move. My goal is a support level at 1.06800 from the resistance.
📊QUICK FUNDAMENTAL LOOK
The euro rose above $1.072 following the release of inflation data that supported the case for the European Central Bank to cut interest rates in June.
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