The EUR/USD market recently completed an ABC pullback, briefly testing above Friday’s high, but price action remains contained within last week’s range, signaling a lack of clear trend direction.
If the price rejects the current resistance zone, a move lower is likely, possibly forming another ABC structure toward the 1.06000 support level. With the zone below 1.07700 already cleared—despite a prior false breakout—a retest of that area is possible. Unless the price manages a close above 1.08500, the pair is expected to drift toward last week’s low, with the next target at the support zone around 1.07610
If the price rejects the current resistance zone, a move lower is likely, possibly forming another ABC structure toward the 1.06000 support level. With the zone below 1.07700 already cleared—despite a prior false breakout—a retest of that area is possible. Unless the price manages a close above 1.08500, the pair is expected to drift toward last week’s low, with the next target at the support zone around 1.07610
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
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.