The Euro Has A Limited Downward Potential

The Euro Has A Limited Downward Potential

H4 chart of EUR/USD

The Euro Has A Limited Downward Potential - 1

The euro sank ahead of the FOMC meeting. Still, I think the currency is heading in the wrong direction. The thing is that the euro has limited downside potential. Moreover, it is already hovering at extreme lows. Any dovish hints from the US Federal Reserve at the meeting today could trigger a surge in the euro.

Long positions could be considered at 0.9970 after a breakout through yesterday's high.

Relevance up to 09:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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