US Economic Data Impact: Will EURUSD Test Support zone Again?

30 ม.ค.

Today, key U.S. economic data was released, including GDP, Unemployment Claims, and the GDP Price Index. These data points had a direct impact on the U.S. dollar, resulting in volatility in the EURUSD pair. The weaker-than-expected GDP and lower inflation caused a temporary weakening of the USD, but the strong labor market data still supports the dollar, potentially limiting further downside for EURUSD.

This was an analysis of the US economic data that was released today.
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EURUSD(EURUSD) entered the Resistance zone($1.054-$1.044) again, and it seems that this move is a Pullback to the ascending channel (broken).

According to Elliott's wave theory, pullback appears to be a Zigzag corrective wave(ABC/5-3-5).

I expect EURUSD to attack the Support zone($1.039-$1.033) again, 100_SMA(4-hour), and decline to at least the width of the broken ascending channel.

Was the bullish candle the previous hour in the role of a pullback or the start of another upward trend for EURUSD?

Note: If EURUSD goes over $1.049, we can expect more pumps.

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Euro/U.S.Dollar Analyze (EURUSD), 1-hour time frame.

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31 ม.ค.

การซื้อขายยังคงดำเนินอยู่

The EURUSD short position was activated after the completion of the pullback.

31 ม.ค.

ปิดการเทรด: ถึงเป้าหมายการทำกำไร

First Target Done