The EUR/USD pair continues to consolidate after experiencing strong bullish momentum. Since Tuesday, the price has primarily been moving sideways, remaining within a defined range. The market is currently positioned at a key resistance zone, yet no significant pullback was observed last week.
At this stage, the price appears likely to continue ranging before making a decisive move. An ABC pullback is in formation, and once completed, there is a strong potential for the trend to resume. A dip below last week's low is anticipated, followed by a rebound from the support level near 1.07800 and the upward trendline. The next potential target is the resistance zone around 1.10000
At this stage, the price appears likely to continue ranging before making a decisive move. An ABC pullback is in formation, and once completed, there is a strong potential for the trend to resume. A dip below last week's low is anticipated, followed by a rebound from the support level near 1.07800 and the upward trendline. The next potential target is the resistance zone around 1.10000
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
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.