Technical Analysis and Outlook:
The Eurodollar has experienced significant volatility during this week's trading session. It reached a significant Mean Resistance level at 1.142 while also encountering Mean Support at a target of 1.122. Recent analyses suggest that the Euro is likely to revisit the critical target of 1.142, which includes Key Resistance at 1.151 and the completed Outer Currency Rally at 1.157. However, there is a potential for a downward correction from the current level, which could lead to prices retesting the Mean Support of 1.122. There is also a possibility for further declines, reaching the Outer Currency Dip at 1.108.
The Eurodollar has experienced significant volatility during this week's trading session. It reached a significant Mean Resistance level at 1.142 while also encountering Mean Support at a target of 1.122. Recent analyses suggest that the Euro is likely to revisit the critical target of 1.142, which includes Key Resistance at 1.151 and the completed Outer Currency Rally at 1.157. However, there is a potential for a downward correction from the current level, which could lead to prices retesting the Mean Support of 1.122. There is also a possibility for further declines, reaching the Outer Currency Dip at 1.108.
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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.