R.Linda Trading - forecast

Trading signals for #EURUSD → The price is moving towards 1.0550, but the news...

FOREX forecast
EURUSD continues to fall and this time it is testing one of the key support levels at 1.07130. The currency pair is in a range, within which it has a fairly predictable target.
Today, traders will get an update on the Fed's latest efforts to lower inflation in the format of one of the key PCE indices. Expectations from the news are uncategorical and unpredictable.
From the technical analysis point of view, the price forms a rebound from the support at 1.07129 and headed towards the local resistance at 1.07624 . If we pay attention to the whole drop after the triple verishna formation, but we see that the price has not updated the local highs once, which indicates a strong bearish pressure on the market.
In the U.S., the core PCE index, the Fed's preferred measure of inflation, will be released. April PCE inflation is expected to be unchanged month-over-month at 0.3%.
Analysts are eyeballing a 4.6% year-over-year increase, while the Fed is looking to bring that figure below its target of 2%.
U.S. Core Durable Goods Orders MoM - Analysts expect the index to decline, which could have a negative impact on the dollar
The Core Personal Consumption Expenditure (PCE) - It is a key way to measure changes in purchasing trends and inflation - analysts believe the index will remain unchanged
The daily candlestick on Thursday closes very close to support, which can be interpreted as a willingness of the market to continue. But because of the news, we have to distinguish two scenarios regarding trigger points:
A bullish momentum to 1.08453 could be formed if resistance at 1.07624 is broken.
If the support is broken, we will see a strong drop to the lower boundary of the mentioned range at 1.05500
Regards R. Linda!