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RLinda
Jan 2, 2024 9:33 AM

EURUSD → Bulls can show good growth  Long

Euro Fx/U.S. DollarFXCM

Description

FOREXCOM:EURUSD is testing support in the upside plane. The support at 1.1017 plays a key role



On D1 we see the formation of a retest of 1.1000 level after its break. The market may test this area not only by touching it, but also by false breakout before further growth.
The TVC:DXY is likely to continue its weakening on the back of weak fundamental background, which will affect the forex market accordingly.
On H4 and H1 it is worth paying attention to the support area: 1.100 level and upward support in order to make further decisions.

Resistance levels: 1.108, 1.1142
Support levels: 1.107, 1.100, 1.0930

The price may test not only the nearest support, but also the one below. Everything depends on the price reaction to the mentioned levels. But at the moment we expect growth from 1.1017.

Regards R. Linda!
Comments
RLinda
Hi traders! What do u think of EURUSD?
chrisgouws92
@RLinda lot of decline last 3 days, hoping for a bullish reversal back to 1.11 with tonights fomc news.
ElenaMayi
@RLinda I agree with you
EMA_Trading
Good trade.
BalticForex
Thank you for sharing! Most of these analyzes are confirmed
MyCryptoParadise_Nathan
DXY's expected continued weakening could influence the forex market.
MyCryptoParadise
The price may test lower supports, depending on its reaction at these levels, but current expectations are for growth from 1.1017.
ErikK736
It is rumor, that ECB will decrease interest rate in march even before FED in april, so fundamentals are oposite of EUR growth.
RLinda
@ErikK736, but it's January :)
the dollar is also a rumor
A lot can happen in 2-3 months that can change the situation dramatically
minters
@RLinda Linda darling I feel this trade should work well.😀
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