The drop in EUR/USD has been remarkable, with the pair even breaking below the critical 1.0500 technical and psychological level. On Friday, it even spiked to a low of 1.0330.
However, following this sharp decline, the pair opened on Monday with a gap up, which has since been filled, potentially signaling the beginning of a correction.
Confirmation of a new bullish leg requires a break back above 1.0515. A daily close above this level could pave the way for a rise toward the 1.0670 resistance zone.
As long as Friday's low remains intact, the outlook remains bullish. Dips near the 1.0400 level could present attractive buying opportunities, offering a favorable risk-to-reward ratio.
However, following this sharp decline, the pair opened on Monday with a gap up, which has since been filled, potentially signaling the beginning of a correction.
Confirmation of a new bullish leg requires a break back above 1.0515. A daily close above this level could pave the way for a rise toward the 1.0670 resistance zone.
As long as Friday's low remains intact, the outlook remains bullish. Dips near the 1.0400 level could present attractive buying opportunities, offering a favorable risk-to-reward ratio.
Trade active
After a quick rise above 1.05 zone, EurUsd dropped under once more.However, the pairs seems is building preasure for a break.
My target remains around 1.0670 resistance with negation under Friday's low
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.