Forecast Based on Analysis:
Support Zone: Around 1.0850-1.0860
Resistance Level: Near 1.0950
Expected Movement: The pair may bounce off the support zone and move upward, targeting resistance at 1.0950.
Bullish Confirmation: If price holds above the support and breaks past 1.0900, further upside toward 1.0950+ is likely.
Key Factors to Watch:
U.S. economic data and Federal Reserve statements.
Eurozone inflation and ECB policy outlook.
Market sentiment on the USD.
Conclusion:
The short-term outlook is bullish if support holds, with a target near 1.0950. However, a break below support could invalidate the bullish setup.
Support Zone: Around 1.0850-1.0860
Resistance Level: Near 1.0950
Expected Movement: The pair may bounce off the support zone and move upward, targeting resistance at 1.0950.
Bullish Confirmation: If price holds above the support and breaks past 1.0900, further upside toward 1.0950+ is likely.
Key Factors to Watch:
U.S. economic data and Federal Reserve statements.
Eurozone inflation and ECB policy outlook.
Market sentiment on the USD.
Conclusion:
The short-term outlook is bullish if support holds, with a target near 1.0950. However, a break below support could invalidate the bullish setup.
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.