Resistance Zone Around 1.0820-1.0830 – The price is currently testing a strong resistance area. The analysis suggests rejection from this zone.
2. Projected Downward Movement – The forecast indicates a price decline, with a target around 1.0740-1.0750.
3. Bearish Momentum Indicated – The zigzag pattern shows an expected series of lower highs and lower lows, reinforcing the downside projection.
4. Fundamental Factors – The upcoming economic events (denoted by EU flags on the chart) may influence volatility and confirm the move.
Forecast for Monday:
If price respects the 1.0820-1.0830 resistance, a bearish move towards 1.0740 is likely.
A breakout above 1.0830 could invalidate the bearish setup, leading to further upside.
2. Projected Downward Movement – The forecast indicates a price decline, with a target around 1.0740-1.0750.
3. Bearish Momentum Indicated – The zigzag pattern shows an expected series of lower highs and lower lows, reinforcing the downside projection.
4. Fundamental Factors – The upcoming economic events (denoted by EU flags on the chart) may influence volatility and confirm the move.
Forecast for Monday:
If price respects the 1.0820-1.0830 resistance, a bearish move towards 1.0740 is likely.
A breakout above 1.0830 could invalidate the bearish setup, leading to further upside.
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.