EUR/USD Outlook: Key Levels and Potential Bearish Continuation
The EUR/USD chart indicates a bearish outlook, with price currently trading below the pivot line at 1.07719.
Bearish Scenario: If the price remains below 1.07719, further declines are likely toward the support levels at 1.06164 and potentially down to 1.05444. A break below 1.05444 could see the price reaching the next support level at 1.03906.
Bullish Scenario: If the price manages to rise above the pivot line at 1.07719, it may aim for the resistance at 1.09156. A close above this level would suggest a shift toward bullish momentum, with the next target at 1.10050.
Key Levels:
Pivot Point: 1.07719
Resistance Levels: 1.09156, 1.10050
Support Levels: 1.06164, 1.05444, 1.03906
previous idea:
Bearish Scenario: If the price remains below 1.07719, further declines are likely toward the support levels at 1.06164 and potentially down to 1.05444. A break below 1.05444 could see the price reaching the next support level at 1.03906.
Bullish Scenario: If the price manages to rise above the pivot line at 1.07719, it may aim for the resistance at 1.09156. A close above this level would suggest a shift toward bullish momentum, with the next target at 1.10050.
Key Levels:
Pivot Point: 1.07719
Resistance Levels: 1.09156, 1.10050
Support Levels: 1.06164, 1.05444, 1.03906
previous idea:
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