FX.co ★ IraniTrader | EUR/USD

EURUSD Price Analysis: We are now investigating and evaluating the EUR/USD currency pair's price behavior. The currency pair has recovered from its lower boundary and trades in a triangle shape. At the start of the hour, increased volatility after the closing of the European stock market and the completion of daily transactions gave rise to an urge for growth. The European trade day tomorrow is expected to provide important news. The defined trading range is still between 1.11595 and 1.11195-1.11195. Bearish expectations for a breakthrough are dampened by the strength of the support zone between 1.11195 and 1.11200. The news on U.S. inflation may cause tomorrow's activity to go up after today's muted moves. Concerns are raised about the veracity of the upcoming inflation figures since the Fed seems eager to keep the present interest rate in place for the whole year, which necessitates a decline in inflation. There doesn't appear to be much room for bullish development; thus, range-based tactics between 1.11595 and 1.11195 should be considered till tomorrow. Despite verbal hints from Fed members, the euro/dollar pair's price action last week finished inside a defined range of 1.11195 to 1.11845 with no discernible change. Powell's recent comments highlighted the importance of state inflation data, which the market is now awaiting. There are two probable outcomes prior to the release: either a quick reaction to the statistics upon publication or a preparation phase that precedes a big movement, suggesting an initial opposite move in EURUSD followed by consolidation within the range to gather volume. 1.11845-1.11870 is the top zone, while 1.12295-1.12650 is above. However, the resistance zone between 1.12895 and 1.12985 is also noteworthy since it is still significant, has a mark, and offers every possibility.