Technical Analysis
EURUSD have big potential to sell around 1.09994. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 1.09246
Fundamental Analysis
The eurozone economy is currently facing a number of challenges, including:
High inflation: Inflation in the eurozone is currently at a record high of 8.6%, which is putting a strain on household budgets and businesses.
Rising interest rates: The European Central Bank (ECB) has begun raising interest rates in an effort to combat inflation, but this could slow economic growth.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete