Technical Analysis and Outlook:
As indicated in the analysis conducted last week, the Euro has initiated a downward trend following a successful retest of the Mean Resistance level at 1.093. It is currently trending downward toward the Mean Support level at 1.078, potentially declining further to the Mean Support level at 1.061. Conversely, should the anticipated downward trend not materialize, the Eurodollar will retest the Mean Resistance level at 1.087, with an additional resistance level marked at 1.095.
As indicated in the analysis conducted last week, the Euro has initiated a downward trend following a successful retest of the Mean Resistance level at 1.093. It is currently trending downward toward the Mean Support level at 1.078, potentially declining further to the Mean Support level at 1.061. Conversely, should the anticipated downward trend not materialize, the Eurodollar will retest the Mean Resistance level at 1.087, with an additional resistance level marked at 1.095.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.