Expert opinion: Caution #EUR (from Coinsradar.net)

EUR/USD maintains gains above 1.0850 after US inflation data. During the US trading session on Friday, EUR/USD traded in the positive zone around 1.0850. The US dollar struggled to maintain its strength after the release of April PCE inflation data, which helped the currency pair to remain stable over the weekend.

The CPI consumer price index in the EU region has begun to cool, but it still grew by about 2.4% over the same period of the past year based on data from March and April, which is the latest data shared by the President of the European Central Bank. Inflation in the EU region is expected to continue to decline, and the ECB can reduce interest rates if it meets the inflation assessment criteria they have determined.

The price range of the EURUSD currency pair is narrowing, showing that the long-term accumulation of this pair is about to enter a boom phase. Watch the breakout hooks of 1.080 and 1.088 for proper trend trading signals.

When the price breaks out of the narrow range, the important support and resistance levels will be quite far away. On the upside, the old peak resistance level is around 1.093, and on the opposite side, the old Dow Jones breakout support area of ​​1.074 will be a support area that investors trust.

Trading Signals:

Buy Range: 1.07400-1.07200 Stop Loss: 1.06900

Sell Range: 1.09300-1.09500 Stop Loss: 1.09800

Breakout and Retest: 1.08800 and 1.08000 #内容挖矿

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