ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD is still bearish
European Central Bank was late in implementing monetary tightening against high inflation in Euro Area, leading to downward pressure on euro. On the other side, US dollar is gaining momentum thanks to the expectations that the Fed will be more aggressive in monetary tightening as a result of its meeting dated May 3 – 4 and treasuries also put pressure on the pair. Technically, bearish momentum continues in EURUSD and if it breaks 1.0500, we will follow 1.0460 support last seen on February 2017. On the other side, 1.0600 and 1.0655 resistance levels will be on our radar.
