If you haven`t sorted EURUSD at the beginning of the Russia - Ukraine war:
The rend continuation:
Or the Double Top Chart Pattern:
Then you need to know that on Tuesday, Fitch Ratings downgraded the US debt rating from the highest AAA rating to AA+, citing "a steady deterioration in standards of governance."
This downgrade occurred following last-minute negotiations among lawmakers to reach a debt ceiling deal earlier this year, putting the nation at risk of its first default.
In the wake of a similar credit downgrade in the past, the EURUSD pair experienced a significant decline of 15.40% within one year. Standard & Poor's, one of the three major credit rating firms, downgraded U.S. debt on Aug. 5, 2011, after another major debt ceiling battle.
Currently, the U.S. 10-year Treasury yield has risen to 4.15%, reaching its highest level since November 2022.
Although a 15.40% decline for the EURUSD pair may not be likely, it's worth mentioning that the target for EURUSD would be 0.924 if such a worst case scenario were to unfold.
Looking forward to read your opinion about it.
The rend continuation:
Or the Double Top Chart Pattern:
Then you need to know that on Tuesday, Fitch Ratings downgraded the US debt rating from the highest AAA rating to AA+, citing "a steady deterioration in standards of governance."
This downgrade occurred following last-minute negotiations among lawmakers to reach a debt ceiling deal earlier this year, putting the nation at risk of its first default.
In the wake of a similar credit downgrade in the past, the EURUSD pair experienced a significant decline of 15.40% within one year. Standard & Poor's, one of the three major credit rating firms, downgraded U.S. debt on Aug. 5, 2011, after another major debt ceiling battle.
Currently, the U.S. 10-year Treasury yield has risen to 4.15%, reaching its highest level since November 2022.
Although a 15.40% decline for the EURUSD pair may not be likely, it's worth mentioning that the target for EURUSD would be 0.924 if such a worst case scenario were to unfold.
Looking forward to read your opinion about it.
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EURUSD slowly slowly following the trendline.
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RESULTS www.bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880