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Rising bets on the depreciation of the dollar over the past few weeks have brought EUR up to $1.235.
At this moment the unclear global geopolitical situation could overturn the possible predictions of the charts, although a bearish RSI price divergence on the time frames is warning of a possible drop in the EURUSD
The 20 and 50 period moving averages are also within hours of a cross.
Therefore, a trend reversal appears likely and could lead prices to reuse the $1.2 resistances as supports before a rebound, but it would be no surprise if prices continue their descent to the important $1.16 threshold.
So we assume two targets, with a stop loss not very far from the current price in order to immediately close positions if prices continue to rise towards new highs.
Rising bets on the depreciation of the dollar over the past few weeks have brought EUR up to $1.235.
At this moment the unclear global geopolitical situation could overturn the possible predictions of the charts, although a bearish RSI price divergence on the time frames is warning of a possible drop in the EURUSD
The 20 and 50 period moving averages are also within hours of a cross.
Therefore, a trend reversal appears likely and could lead prices to reuse the $1.2 resistances as supports before a rebound, but it would be no surprise if prices continue their descent to the important $1.16 threshold.
So we assume two targets, with a stop loss not very far from the current price in order to immediately close positions if prices continue to rise towards new highs.