Europe raised all three major interest rates by 75 basis points yesterday, but the subsequent dovish signal from the European Central Bank President sent EUR/USD continuing to fall. In addition, the GDP data released at 8:30 Beijing time was better than expected, hitting a new high in 4 months.
Yesterday’s candle on the D1 chart closed at the low of the previous one, indicating that prices may be showing signs of continued decline. However, the price touched in the performance stage of the D1 chart is also at the key support level below. If it continues to fall below, it will return to the downward trend.
On the H1 chart price is attempting to challenge the break below the support level. But integrating a series of information on the fundamentals above, the downward force is still very strong.
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