Trend Overview: The EUR/USD currency pair remains in a bullish trend, supported by a prevailing uptrend. The recent intraday price action suggests a corrective pullback towards a newly formed support zone, previously a resistance level.
Key Levels to Watch:
Support Levels:
1.0755 – Previous resistance turned support, key level for potential bounce.
1.0700 – Secondary support level if 1.0755 fails.
1.0600 – Stronger support in case of extended retracement.
Resistance Levels:
1.0914 – Initial resistance level on the upside.
1.1013 – Next target if bullish momentum continues.
1.1070 – Long-term resistance and key breakout point.
Market Sentiment & Price Action: The recent corrective pullback aligns with normal market fluctuations within an uptrend. A bullish bounce from the 1.0755 support level could trigger an upside move, targeting the 1.0914 resistance level and potentially extending towards 1.1013 and 1.1070 over a longer timeframe.
Alternatively, a confirmed loss of the 1.0755 support, accompanied by a daily close below this level, would weaken the bullish outlook. This could lead to further downside pressure, potentially testing the 1.0700 level, with an extended decline towards 1.0600 if selling pressure intensifies.
Conclusion: The EUR/USD pair remains in a bullish structure as long as the 1.0755 support holds. A successful bounce from this level would reinforce the uptrend, targeting higher resistance zones. However, a decisive break below 1.0755 and a daily close under this level could shift sentiment bearish, leading to further downside retracement.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Key Levels to Watch:
Support Levels:
1.0755 – Previous resistance turned support, key level for potential bounce.
1.0700 – Secondary support level if 1.0755 fails.
1.0600 – Stronger support in case of extended retracement.
Resistance Levels:
1.0914 – Initial resistance level on the upside.
1.1013 – Next target if bullish momentum continues.
1.1070 – Long-term resistance and key breakout point.
Market Sentiment & Price Action: The recent corrective pullback aligns with normal market fluctuations within an uptrend. A bullish bounce from the 1.0755 support level could trigger an upside move, targeting the 1.0914 resistance level and potentially extending towards 1.1013 and 1.1070 over a longer timeframe.
Alternatively, a confirmed loss of the 1.0755 support, accompanied by a daily close below this level, would weaken the bullish outlook. This could lead to further downside pressure, potentially testing the 1.0700 level, with an extended decline towards 1.0600 if selling pressure intensifies.
Conclusion: The EUR/USD pair remains in a bullish structure as long as the 1.0755 support holds. A successful bounce from this level would reinforce the uptrend, targeting higher resistance zones. However, a decisive break below 1.0755 and a daily close under this level could shift sentiment bearish, leading to further downside retracement.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.