By Admiral Markets
The US is on track for 3 hikes this year, and a few more in following years,but there were mentions during previous week that the ECB too may shift to normalising rates also in due time, so at this point we see a possible change in direction on this pair. The POC zone 1.0725-40 (L3, trend line, EMA 89, ATR pivot 23.6) and if 1.0670 stays strong we might see 1.0800 and 1.0840. The uptrend has been established by strong momentum candle (highlighted in green) and it seems we might see a continuation. Watch for any rejections from POC and break of 1.0780 if it happens short term.
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Article by Admiral Markets
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