Technical Analysis and Outlook:
During the trading session of the previous week, the Euro successfully retreated to the critical Mean Support level of 1.173 and proceeded to exhibit a continued downward trend, with a subsequent Mean Support level established at 1.166. Current market dynamics suggest a likelihood of sustaining this downward trend. The primary targets identified for this trend include Mean Support levels of 1.160, 1.153, and the Key Support level at 1.140.
Conversely, the current price action suggests a potential upward movement towards the Mean Resistance level of 1.174. There exists a modest possibility of extending this rebound to reach the Key Resistance level of 1.181.
During the trading session of the previous week, the Euro successfully retreated to the critical Mean Support level of 1.173 and proceeded to exhibit a continued downward trend, with a subsequent Mean Support level established at 1.166. Current market dynamics suggest a likelihood of sustaining this downward trend. The primary targets identified for this trend include Mean Support levels of 1.160, 1.153, and the Key Support level at 1.140.
Conversely, the current price action suggests a potential upward movement towards the Mean Resistance level of 1.174. There exists a modest possibility of extending this rebound to reach the Key Resistance level of 1.181.
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.
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.