EURUSD : Trading was quiet around 1,080
EUR/USD is steadfastly guarding the 1.0800 level during the European trading session on Friday. The pair remains stable amid a weakening US Dollar and optimistic sentiment, awaiting the Eurozone's leading inflation data for new directional momentum.
On the chart, the pair is undergoing a retracement phase, showing a modest increase but still under the control of sellers at the resistance level of 1.086. The future direction remains uncertain, though the outlook leans towards a potential decline, influenced by risk indicators and a bearish EMA 34 reversal signal. In this scenario, sellers are targeting at least the 1.070 level. This could serve as a robust support point, where a rebound for the pair might once again be anticipated.
On the chart, the pair is undergoing a retracement phase, showing a modest increase but still under the control of sellers at the resistance level of 1.086. The future direction remains uncertain, though the outlook leans towards a potential decline, influenced by risk indicators and a bearish EMA 34 reversal signal. In this scenario, sellers are targeting at least the 1.070 level. This could serve as a robust support point, where a rebound for the pair might once again be anticipated.
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