Pair EURUSD continued with the bearish trend this week as well. Yesterday, a new August low was formed at the 1.09110 level. After that, the euro gains support at that level and recovers to the 1.09600 level. During the Asian trading session, we failed to break above and continue the recovery. In contrast, EURUSD retreated below the 1.09500 level and is now trying to gain support at that level.
We need a negative consolidation and a drop to the previous support zone for a bearish option. A break below would confirm a bearish option, and the euro would continue to slide even lower. Potential lower targets are 1.09000 and 1.08900 levels.
We need a positive consolidation and a break above the 1.09600 level for a bullish option. Then, we need to hold above it so that we have the opportunity to initiate further recovery. Potential higher targets are 1.09800 and 1.10000 levels. The EMA50 moving average in the zone around the 1.10000 level represents additional resistance to the bullish option.
We need a negative consolidation and a drop to the previous support zone for a bearish option. A break below would confirm a bearish option, and the euro would continue to slide even lower. Potential lower targets are 1.09000 and 1.08900 levels.
We need a positive consolidation and a break above the 1.09600 level for a bullish option. Then, we need to hold above it so that we have the opportunity to initiate further recovery. Potential higher targets are 1.09800 and 1.10000 levels. The EMA50 moving average in the zone around the 1.10000 level represents additional resistance to the bullish option.
𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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