Key Levels to Confirm Bullish Reversal or Extend Downtrend
EUR/USD Technical Analysis
The price is likely to attempt to reach 1.0915 from the pivot line, with the possibility of a retest down to 1.0832 before initiating a bullish trend.
Bearish Scenario: If the price remains below 1.0772, this would indicate a continuation of the downtrend towards the support level at 1.0680.
Bullish Scenario: A break and a sustained move above 1.0865 could confirm a bullish move toward 1.0915, with further potential to reach 1.1005, signaling upward momentum.
Key Levels:
Pivot Line: 1.0830
Support Lines: 1.0770, 1.0680, 1.0618
Resistance Lines: 1.0915, 1.1000, 1.1082
Trend Outlook:
Bearish by stability under 1.0772
Bullish by stability above 1.0830
The price is likely to attempt to reach 1.0915 from the pivot line, with the possibility of a retest down to 1.0832 before initiating a bullish trend.
Bearish Scenario: If the price remains below 1.0772, this would indicate a continuation of the downtrend towards the support level at 1.0680.
Bullish Scenario: A break and a sustained move above 1.0865 could confirm a bullish move toward 1.0915, with further potential to reach 1.1005, signaling upward momentum.
Key Levels:
Pivot Line: 1.0830
Support Lines: 1.0770, 1.0680, 1.0618
Resistance Lines: 1.0915, 1.1000, 1.1082
Trend Outlook:
Bearish by stability under 1.0772
Bullish by stability above 1.0830
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