EUR/USD Is at A Crossroads: What’s Next?
The price of the currency pair EUR/USD is currently testing the resistance level of 1.1000. The price of this asset might rebound and drop. In this case, the asset would dive under resistance at the end of the trading week and form a bearish engulfing. Should the asset’s price break the resistance through, it might have to face another resistance at the level of 1.1140 and undergo the mid-term correction. So, let’s wait and see what is going to be the next movement of the currency pair.
The price of gold has attempted to break the resistance level of 2488, but to no avail. Hence, it is trying to form the falling candle. The price of this asset is likely to undergo correction and gain the required support at the level of 2285. Time will tell whether this scenario is going to work out.
The U.S. 10-year treasury yield has dropped till the level of 3.78%. The yield is not likely to increase any time soon. Therefore, the rate of this government bond should drop. At this point, it would be interesting to follow the price movements around this level as well as reverse candlestick formations such as a hammer, bullish engulfing etc. This might help to forecast the upcoming sentiment.
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