-620 points reached in EURUSD Signal after Re-entering inside the descending channel

EURUSD Analysis

EURUSD has broken the top level of the Descending channel. After the breakout, the Market has retested the broken level and starts to bounce up in the 1-hour timeframe chart.

Breakout and retest of the descending channel happened in the EURUSD 1hr chart

Due to Fundamental Economic news release, EURUSD has re-entered inside the descending channel within a short time due to Positive news result data of US Core CPI (Consumer Price Index). This led to the stop-loss price. Tomorrow FED Testimony scheduled.

The inflation rate ticked higher to 5.4%

FED may soon expect to taper assets by this year-end due to the inflation rate change.

EURUSD fall again to the low level of Symmetrical Triangle pattern in the daily Timeframe chart.

EURUSD fall to the low level again at the symmetrical triangle pattern

 

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