USD and JPY are coming higher as stocks continue to weaken with SP500 breaking below 4500. So risk-off may resume which can allow USD to recover even more.
EURUSD came higher last week after US CPI figures. Pair moved to the upper side of a corrective channel line, to around 1.1490 where bulls slowed down as the market turned with impulsive bearish price action. We see nice and sharp reversal down and pair already testing the lower trendline support where we expect a breakdown that will make a room for further weakness back to 1.1185.
EUR/USD 4h Elliott Wave analysis
Install your trader software at VPS server of one of the super fast providers:
Finance news
 CEO outlook dims sharply, with more than half expecting a recession ahead, survey showsCorporate executives are taking a dim view of their prospects, with a majority now expecting ... Read More  Stock futures are little changed ahead of key inflation readingStock futures were little changed in overnight trading Tuesday ahead of a key inflation reading.Futures ... Read More  From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting businessFactories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site ... Read More |
