Hello dear friends! It's the end of another trading week! Let's recap the market from last week and discuss our new plans for the upcoming week, shall we?
Overall, the downward trend of EURUSD continued last week. The strong support level at 1.067 couldn't make the EU turn around, and the downward trend persisted. Currently, EU has temporarily halted trading activities and reached a level of 1.059. The trend from last week was mostly sideways as the price faced a strong support level at 1.054 (as shown on the 1d chart).
However, investors still lack the motivation to push the price back up. With the current trend, there is a possibility of a price increase next week, but it may not last long as it approaches the resistance level. There is evidence that once it touches the resistance level, it will resume its downward movement, as indicated by the unchanged EMA.
What are your thoughts on EURUSD?
Overall, the downward trend of EURUSD continued last week. The strong support level at 1.067 couldn't make the EU turn around, and the downward trend persisted. Currently, EU has temporarily halted trading activities and reached a level of 1.059. The trend from last week was mostly sideways as the price faced a strong support level at 1.054 (as shown on the 1d chart).
However, investors still lack the motivation to push the price back up. With the current trend, there is a possibility of a price increase next week, but it may not last long as it approaches the resistance level. There is evidence that once it touches the resistance level, it will resume its downward movement, as indicated by the unchanged EMA.
What are your thoughts on EURUSD?
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Let's wait for the analysis results with Karina, wish you a great weekend!
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Next week we will receive a lot of important information, the market will fluctuate quite a lot! Note the market and Karina will have regular information for you to grasp!
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Trade active
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The small decline may occur on the 1H chart
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The price has returned, formed DOW
