Chapter 21 EURUSD moving to the Previous high
7/11/2022
Fundamental analysis
The euro rose to $0.996 by the end of last week after the latest jobs report showed mixed signals, the US dollar fell on expectations that the US Federal Reserve will eventually have to slow the pace of rate hikes despite Powell's hawkish tone.
Meanwhile, European Central Bank President Christine Lagarde said last week that the bank should continue to raise interest rates, even if the possibility of a recession in the eurozone increased.
Attention will turn this week to US inflation data, numerous speeches by
Federal Reserve officials and congressional elections
Technical analysis
In 1 chart, we can see the price is pushing up after nonfarm payroll results has been released on Friday What we expect is the market have to pull back to the previous demand zone shown in the chart and from that zone will push up again to the previous supply zone all this plus 20 moving average should point up
