**CORRECT LINK!*** $EURUSD Forex Signal: Potentially Stabilizing Above $1.07 Area
, I thought that due to the long-term bullish trend, we should expect the most likely scenario to be the price rising again later and possibly attempting to break above the key resistance level at $1.0937.
This was a fairly accurate call over the medium-term but not useful for trading that day, as the price went down during the London session., despite the ECB’s 0.50% rate hike and promise of another 1% in rate hikes during the current cycle, as the US Dollar has strengthened notably over recent days – and it is this which has driven the price down here, with the Euro actually being somewhat stronger than many other currencies, notably the British Pound.
a scalp trade off any rejection of either key support or resistance will likely be the best opportunityAfter the London close, Jerome Powell the Fed Chair will be speaking about the US economy at a public but minor event. His words will be closely watched, and US Dollar bears will probably seize on anything he might say to support their case, so we might see a price rise here later in the New York session. Alternatively, there is a chance he might sound quite hawkish on further rate hikes, which would likely send the price below the support level at $1.0692.
Regarding the USD, the Chair of the Federal Reserve, Jerome Powell, will be speaking at a minor event at 5pm London time. There is nothing of high importance due today concerning the EUR.
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