🔍 Preliminary Technical Analysis:
1. Short-term Trend: The pair appears to be undergoing a corrective move downward after a clear upward trend from around 1.1200 to above 1.1500.
2. Nearby Resistance: Located in the 1.1450 to 1.1500 area.
3. Nearby Support: The 1.1350 level is acting as a potential support; breaking below it may push the price toward 1.1300 or...
The EUR/USD hourly chart shows the pair currently trading near a key resistance zone around 1.1365, following a gradual upward movement that started from the strong support level at 1.1333.
The first red arrow on the chart suggests the possibility of a minor pullback toward the 1.1333 support area before a potential bullish continuation. This scenario indicates a...
The pair tried to break the level of 144.96 to 145.97, but it failed, and there is a possibility of trying for a second time, but there is a possibility of failure. Therefore, we wait for the second attempt until there is an opportunity to sell from the level of 144.9 to 140.67, and then 133.33.
The EUR/USD pair is bullish I expected the first week of 2024 to be bullish for the euro/US dollar after falling to the level of 1.095, but it fell to 1.087 due to weak European data, but now it can rise to the previously set target of 1.127 and 1.138 at least during this month.
I expect that the EUR/USD pair will rise at the beginning of the year to the level of 1.1275 at least and further to 1.138, but we must wait until it tests the level of 1.1018 or 1.095 and fails to break. HAPPY NEWYEAR 🎆🎉🎊
I expect the price of the euro/US dollar to fall to the level of 1.084, which is the moving average level of 21, then to rise and break the 1.1 barrier to 1.107 and continue to 1.138 until the end of the year.
