For two days in a row, the daily candlestick chart showed a long upper shadow, but the euro did not rise. Even though U.S. long-term interest rates went down, selling of the euro against the yen made it hard for the euro to go up.
Also, yesterday’s report showed that the eurozone economy grew less than expected from January to March. This weaker growth makes people think the European Central Bank may cut interest rates again, which is another reason the euro may not rise.
In addition, trade talks between the U.S. and Europe are not going well, so the euro is slowly falling.
Expected EUR/USD Range:1.1050 – 1.1220
Note: The information above does not guarantee profits. Please make your own decisions when trading.