EUR/USD Breaks Below May 31 Low

www.investing.com/analysis/eurusd-breaks-below-may-31-low-200642205

By Al Brooks | Sep 27, 2023 09:52AM ET

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EUR/USD

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EUR/USD-Daily Chart

The EUR/USD closed below the May 31st low and formed a follow-through bar yesterday.
At the moment, today is another strong bear breakout bar. However, the bears will have to prevent any strong buying pressure for the entire U.S. session if today is going to close on its low.
More likely, the bears will get disappointed with today’s breakout bar.
Because the daily chart is always short and in a tight bear channel, traders will sell, taking a chance that the market goes lower. However, those bears will likely be quick to exit if the bulls get a reversal today.
More likely, the bears will become disappointed over the next few days, and the market will go sideways. The bulls still expect the market to reach the moving average.

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Central Banks

Interest Rates

Next Meeting

FED

5.50%

Dec 13, 2023

ECB

4.50%

Dec 14, 2023

BOE

5.25%

Dec 14, 2023

SNB

1.75%

Dec 14, 2023

RBA

4.35%

Dec 05, 2023

BOC

5.00%

Dec 06, 2023

RBNZ

5.50%

Feb 28, 2024

BOJ

-0.10%

Dec 19, 2023

CBR

15.00%

Dec 15, 2023

RBI

6.50%

Dec 08, 2023

PBOC

3.45%

BCB

12.25%

Dec 13, 2023

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EUR/USD Breaks Below May 31 Low

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