After dumping through the last low, the pair has come to a new low in 20 years. Unlike last time when it reached under 1, this time the price was not able to do a nice pull back to 1, instead, the pair is still struggling going back to the last lower point around 0.99500.
For now, unless DXY somehow suddenly dump itself back to 107 or 106, it is really difficult for me to say the pair can go back to 1, before they can resolve their issue about energy. Also, the announcement about the possible recession that Germany might be facing did not help with strengthening Euro.
Even though I hold a berish view about the pair, I wouldn't suggest to trade the pair at this level, it is too risky. It would be a better idea to wait a bit and see what is going on with this pair, before place any orders.
EURUSD
For now, unless DXY somehow suddenly dump itself back to 107 or 106, it is really difficult for me to say the pair can go back to 1, before they can resolve their issue about energy. Also, the announcement about the possible recession that Germany might be facing did not help with strengthening Euro.
Even though I hold a berish view about the pair, I wouldn't suggest to trade the pair at this level, it is too risky. It would be a better idea to wait a bit and see what is going on with this pair, before place any orders.
EURUSD
