Hello everyone! Today, the EUR/USD is maintaining its initial uptrend below 1.0700, starting the new week with positive signals on Monday. This currency pair is receiving upward support due to improved market sentiment and widespread retreat of the US Dollar.
On the other hand, any further recovery may encounter resistance near the previous monthly low area around 1.0685. Following that is the level of 1.0700, above which a short-selling rally could push the EUR/USD pair towards the weekly range high around 1.0765-1.0770 region.
On the other hand, any further recovery may encounter resistance near the previous monthly low area around 1.0685. Following that is the level of 1.0700, above which a short-selling rally could push the EUR/USD pair towards the weekly range high around 1.0765-1.0770 region.
Note
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In the event of an escalation of crises, the Yen can also quickly strengthen against the Euro again at any time.
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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.