18:21 July 10, 2023
Over the past week, we have seen bouts of high volatility in the markets, with European stocks selling off as well as US stocks, albeit to a lesser extent than European indices.
Interestingly, that stayed EUR USD-pair stable in the end and the euro even appreciated against the US dollar!
Looking at the 4-hour chart, the price is trading in a technical structure that is already anticipating any possible bullish momentum. This structure could sustain the current bullish momentum as long as price stays above the structure.
EUR/USD chart on the 4 hour timeframe
On the chart of US dollar index one can also see that the price broke through a technical structure that was supporting the USD downtrend.
Chart on the daily time frame.
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