EURUSD: Likely to trade between 1.01 and 1.032 By Aug 15
EURUSD long-term bearish sentiment is still intact. The initial signal of ending bearish bias is when rate trades above 1.032 and 1.036. In such scenario price would move initially to 1.05 and then it can head to 1.08 by the end of this quarter.
As long as price holds below 1.032, a trading range between 1.01 and 1.032 is expected. It is worth taking bullish risk if price approaches toward 1.01. Bearish trade for short-term makes sense if rate tries to reach around 1.03. This neutral bias might be the case for short-term (By Aug 15 2022).
If price cannot hold 1.008, the risk of directional move to parity increases.
As long as price holds below 1.032, a trading range between 1.01 and 1.032 is expected. It is worth taking bullish risk if price approaches toward 1.01. Bearish trade for short-term makes sense if rate tries to reach around 1.03. This neutral bias might be the case for short-term (By Aug 15 2022).
If price cannot hold 1.008, the risk of directional move to parity increases.