Similar to GBP/USD, EUR/USD has been on a relentless downtrend
for the last few weeks. However, the price is at a very interesting level now.
With FOMC event coming up, let us analyze and see if there is a chance
for the bulls.
📌EUR/USD is currently around the key level at 1.0640. Price has in fact,
shown a small bounce from this key level.
📌If the support level at 1.0640 holds, I expect EUR/USD to go further
towards 1.0857 and 1.09.
📌Traders can consider buying EUR/USD@1.0640-1.0660 with SL below
1.06 and initial TP at 1.0850. The buy trade should be placed only
if the key level at 1.0640 remains unbroken.
for the last few weeks. However, the price is at a very interesting level now.
With FOMC event coming up, let us analyze and see if there is a chance
for the bulls.
📌EUR/USD is currently around the key level at 1.0640. Price has in fact,
shown a small bounce from this key level.
📌If the support level at 1.0640 holds, I expect EUR/USD to go further
towards 1.0857 and 1.09.
📌Traders can consider buying EUR/USD@1.0640-1.0660 with SL below
1.06 and initial TP at 1.0850. The buy trade should be placed only
if the key level at 1.0640 remains unbroken.
Note
The support level at 1.0640 is holding well so far. We need strong bullish impulse above 1.07 to see further uptrendNote
Price closing above 1.07 will be positive for the bullsNote
Looks like further uptrend about to happen
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.
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.