Post-Interest Rates... 🏁--> Momentum Push?

16 Jun 2023

USD Interest rates helped to pull EURUSD back for better prices. Euro interest rates was the catalyst for a +1% increase in the EURUSD currency pair. The WeekIy candle can push a bit more to end off the week. We usually have a bunch of liquid just past extreme highs and that is what I am explaining on the chart. This is a price action concept. took buys at the beginning of the move and took my humble 14 pips.
Anticipating a continuation of price to the upside with consumer sentiment tomorrow. It is expected to improve over the prior data point two weeks ago for the USD. Given the massive buy volume it is difficult for me to visualize that the current daily candle will not attempt at lease so some of push towards the next daily level 1.098 Daily Resistance Level.

16 Jun 2023

Nota

Price has moved to our target 1.097 prior to Consumer sentiment. We still have some room to push to 1.098 daily resistance level. Approximately 15 pips from here. Consumer sentiment can take us there.

16 Jun 2023

Nota

It is possible that the weekly candle can pull back and create a larger top wick with consumer sentiment news. It is expected to be good for the USD anyways. We have have received a momentum push as price has pushed to our first target. Second target 1.098 Daily resistance may not be tapped into until momentum with the new weekly candle next week.

16 Jun 2023

Nota

moving into next week there will likely be a continuation of momentum with the new weekly candle. Looking for a push into 1.098 Daily level and 1.1024 Weekly Level. 1.093 was a resisatnce on May 11. Since price has closed above 1.093 it may now act as a key level moving into next week.