Technical Analysis and Outlook:
In the ex-week’s Eurodollar trading session, one of the renowned currencies resumed its upward movement, where it successfully retested the Mean Resistance at 1.158.
The current momentum points are traveling upward on the Inner Rebound path, eyeing the next significant obstacle, marked as Mean Resistance 1.161, with the ultimate goal of reaching Inner Currency Rally 1.170.
However, there is a probability of a termination of the upward price movement; we may see an In-Force Retracement, targeting strong Mean Support at 1.152 and potentially lower, down to 1.145.
In the ex-week’s Eurodollar trading session, one of the renowned currencies resumed its upward movement, where it successfully retested the Mean Resistance at 1.158.
The current momentum points are traveling upward on the Inner Rebound path, eyeing the next significant obstacle, marked as Mean Resistance 1.161, with the ultimate goal of reaching Inner Currency Rally 1.170.
However, there is a probability of a termination of the upward price movement; we may see an In-Force Retracement, targeting strong Mean Support at 1.152 and potentially lower, down to 1.145.
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Related publications
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.