EURUSD bullish consolidation

25 באוק׳ 2022

During the Asian trading session, the pair EURUSD retested the 0.99000 level. Then, we see a minor pullback to the 0.98500 level, and the euro is now trying to find that first support. For a bearish option, we need a continuation of the negative consolidation and a further pullback of the euro to the 0.98000 level. Increased pressure on the euro could lower the pair to the trend line and the 0.97500 level. A break below this line could lead to a significant drop in the euro. Potential lower targets are 0.97000 and 0.96500 levels. For a bullish option, we need a new positive consolidation and a crossing of the 0.99000 level. Then we need to stay there and continue the further recovery of the euro with a new bullish impulse. Potential higher targets are 0.99500 and 1.0000 levels.