FX.co ★ berta.hill | EUR/USD

EUR/USD has now encountered resistance at the level of 1.1668, so we need to see how it will react next week. On one hand, we should go back down below 1.16, as there may be very sharp movements due to the many economic data releases scheduled for next week. By the end of Friday, it should definitely drop. The Euro is particularly affected by high inflation, which is expected to increase for another couple of months. In this situation, I would definitely open a short position, but there is currently no good entry point. The stop loss would have to be set too high. So I will skip entering here. We should expect a very deep pullback, so there is still room for further decline.