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Eurozone Data Ahead EURUSD H1 Chart Technical Overview

Eurozone Data Ahead EURUSD H1 Chart Technical Overview,

FOMC Statement and Powell’s speech showed that  “no change on the FED’s stance”

The central bank kept rates unchanged as expected. Chairman Powell, however, pushed back expectations that the central bank’s next move would be a rate cut by associating low inflation with transitory factors. Powell added further that there is no strong case for a rate move in either direction, disappointing traders looking for a hint of a rate cut.

USD is still the strongest currency.

The pair is trading below 1.12200.

A bearish flag pattern is being printed on the H1 chart.

Germany Retail Sales data will be released. A worse than expected data may trigger the bearish flag pattern

Our Short Setup

Entry: 1.11900

Stop: 1.12100

Target 1: 1.11700

Target 2: 1.11600

Target 3: 1.11400 ( Structural Target of the Flag Pattern )

VERIFIED ACCOUNT AND SETUP RESULTS

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

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