My Analysis of EURUSD during the week of 13/08/2023
EURUSD
TRENDS
Short term: STRONGLY BEARISH
Underlying: SLIGHTLY BULLISH
MY OPINION
BEARISH UNDER 1.1069 USD
MY TARGETS
1.0856 USD (-0.0091)
1.0638 USD (-0.0309)
MY ANALYSIS
The strong short-term decline in EUR/USD calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 1.1069 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 1.0856 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.0638 USD as an objective. Crossing it would then enable sellers to target 1.0547 USD. Be careful, a return to above 1.1069 USD could jeopardize the reversal.
n the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
TRENDS
Short term: STRONGLY BEARISH
Underlying: SLIGHTLY BULLISH
MY OPINION
BEARISH UNDER 1.1069 USD
MY TARGETS
1.0856 USD (-0.0091)
1.0638 USD (-0.0309)
MY ANALYSIS
The strong short-term decline in EUR/USD calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 1.1069 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 1.0856 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.0638 USD as an objective. Crossing it would then enable sellers to target 1.0547 USD. Be careful, a return to above 1.1069 USD could jeopardize the reversal.
n the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.