EurUsd Midterm Trend
With the expected easing in the DXY, we anticipate an upward movement in EUR/USD. Technically, the price has declined following Fibonacci retracement levels and seems to have found significant support at the last retracement level of 76.4%. However, with the upcoming data flow in the next few weeks, the previous low of 1.06 might be retested, and an Elliott complex ABC correction could occur. We recommend placing your stop-loss orders below the 1.06 level for buy trades.
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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.