EURUSD → An attempt to change the trend could be successful for FX:EURUSD by RLinda

EURUSD → An attempt to change the trend could be successful

gets a chance for a bullish run. The currency pair breaks the prolonged downtrend and consolidates for a chance to continue the upward movement

The global trend is downtrend and at the moment it is too early to talk about a change of trend, as the price is under pressure from the strong resistance at 1.044. BUT! A pre-breakout base is forming around this area, so if the dollar continues its corrective course, EURUSD will have a chance to confirm the trend change. If the bulls are able to overcome 1.0448 and consolidate above this level, we will have a chance to rise to 1.06 and possibly higher....

Resistance levels: 1.0448, 1.0607
Support levels: 1.033, 1.0222

Technically, the focus is on the nearest trigger at 1.0448. A breakout and consolidation of the price above this zone may provide a convenient entry point to open long positions.

Regards R. Linda!

RLinda

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