The EUR/USD pair exhibits bullish sentiment, underpinned by an ongoing uptrend. Recent intraday price action indicates a breakout from a sideways consolidation phase, aiming for previous resistance levels.
Key Trading Level:
1.0877: This critical level marks the previous consolidation range and acts as a pivotal point for the bullish outlook.
Bullish Scenario:
A corrective pullback to the 1.0877 level, followed by a bounce, could signal continued upward momentum. If confirmed, the next resistance targets are:
1.0950
1.1020
1.1090
Bearish Scenario:
A decisive break and daily close below 1.0877 would invalidate the bullish outlook, paving the way for a deeper correction toward:
1.0806
1.0734
Conclusion:
While the prevailing trend remains bullish, a pullback to 1.0877 could offer a potential buying opportunity, provided the level holds. Conversely, a break below it would shift focus to lower support levels.
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 Trading Level:
1.0877: This critical level marks the previous consolidation range and acts as a pivotal point for the bullish outlook.
Bullish Scenario:
A corrective pullback to the 1.0877 level, followed by a bounce, could signal continued upward momentum. If confirmed, the next resistance targets are:
1.0950
1.1020
1.1090
Bearish Scenario:
A decisive break and daily close below 1.0877 would invalidate the bullish outlook, paving the way for a deeper correction toward:
1.0806
1.0734
Conclusion:
While the prevailing trend remains bullish, a pullback to 1.0877 could offer a potential buying opportunity, provided the level holds. Conversely, a break below it would shift focus to lower support levels.
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.