E Euro With HTF Resistance Around Quarterly VWAP DVAH; Balanced Hourly Rate Range

Euro against the dollar little changed with 0.1% in the European trading session. The rate testing the HTF higher extreme of the balanced price range on the monthly periodicity which might pressure it.

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Hourly is balanced around the Quarterly VWAP DVAH (1st Standard Deviation of VWAP) which might be the sign for absorption while with current bullish tendencies towards the higher and prior POC level from yesterday's trading session. This particular level is confluent with the QDVAH. Looking for selling patterns around the mentioned upper VWAP close level or trading towards it might the plan for some market participants.

Higher inflation data in the euro area may be a factor for bearish behavior while the recent slight decline compared to the prior one in the MoM data might short-term bullish rated which we can actually see in the current rate's behavior.

German GfK Consumer Climate was higher with -7.0 than previously which could be bullish for the euro. Upcoming data in the New York trading session shall be monitored and can fluctuate the rate, placing the risk location/area accordingly is crucial.

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