EURUSD: Break Below 618, Approaching Inside Bar Demand Zone
EURUSD fell as the 618 level failed to hold the price after ECB Draghi signals for more rate cut.
The price is approaching the demand zone created with an inside bar breakout that sent the price soaring and break above a 3-month falling channel.
What's more important now is how will the Fed react during FOMC as the Fed has already signalled for a probable rate cut earlier.
Look for buy opportunity as the price approaches 1.1160.
The price is approaching the demand zone created with an inside bar breakout that sent the price soaring and break above a 3-month falling channel.
What's more important now is how will the Fed react during FOMC as the Fed has already signalled for a probable rate cut earlier.
Look for buy opportunity as the price approaches 1.1160.