EUR/USD: Recovery or Further Decline?
The current EUR/USD chart shows a positive trend with important test points, but even though it is moving in a fairly stable pattern, the market's hesitation can provide opportunities for investors to pay attention.
On the daily chart, EUR/USD has demonstrated its ability to maintain levels above two moving averages (EMA 34 and EMA 89), a positive sign that shows the strength of the current trend. However, there are also signs of hesitation with recent candles being small and having long shadows, indicating uncertainty in the market.
Investors and traders should closely watch the support level at 1.10750, where a resumption of the uptrend could be confirmed if the price breaks through this level convincingly. The key resistance on the upside is at 1.1100, a level that could test the resolve of buyers in the coming period.
On the daily chart, EUR/USD has demonstrated its ability to maintain levels above two moving averages (EMA 34 and EMA 89), a positive sign that shows the strength of the current trend. However, there are also signs of hesitation with recent candles being small and having long shadows, indicating uncertainty in the market.
Investors and traders should closely watch the support level at 1.10750, where a resumption of the uptrend could be confirmed if the price breaks through this level convincingly. The key resistance on the upside is at 1.1100, a level that could test the resolve of buyers in the coming period.
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