The EURUSD pair appears to be bullish from a daily timeframe perspective, but there is a possibility of a correction if the price is rejected at the current level of 1.09070. If this rejection is confirmed, it is likely that the price will return to the mid-point range of the H4 chart or the mid-point of the consolidation area around 1.08250. Traders and investors should keep a close eye on this potential development and be prepared for any fluctuations in the market.
Furthermore, the outcome of the upcoming February rate decision could greatly impact the EURUSD pair. The Federal Reserve's monetary policy decisions can affect the value of the U.S. dollar, which in turn can impact the value of other currencies, such as the Euro. As such, traders and investors should pay close attention to the outcome of the rate decision and be prepared for any market fluctuations that may result.
In conclusion, the EURUSD pair appears to be bullish from a daily timeframe perspective, but a possible correction cannot be ruled out. Traders and investors should keep a close eye on the current level of 1.09070 and the outcome of the February rate decision. Fellow traders and investors, it would be valuable to share your thoughts and opinions on this matter. Stay updated by following me for more information.
EURUSD Update: Rejection at 1.09070 Confirmed
The rejection at 1.09070 has now been confirmed, and it appears that the price may not reach the mid-point at 1.08250. However, it is important to note that the market is constantly changing and it is difficult to predict future movements with certainty.
Despite this setback, we must remain optimistic and keep an eye on the market developments in order to make informed decisions. Additionally, it's worth diversifying the portfolio with other assets and keeping an eye on other indicators to make sure you're making the best decision.