#Euro Bearish but Price Action In A Tight Trade Range
Past Performance
Based on the performance in the daily chart, euro prices were fixed in a tight trade range. The immediate trend is bearish, and $1.0900 is a critical reaction level. Moreover, the June 23 bar is an important candlestick as it shapes the short-term trajectory considering that it is wide-ranging and trading volumes are high.
#EURUSD Technical Analysis
Bears of last week could flow back, pressing the Euro even lower. For this to be valid, there must be a close below $1.0880 by today's close, aligning the emerging trend with the development of the June 23 bar. This, in turn, could allow risk-off traders to align with sellers of the end of last week, targeting $1.0800. Conversely, any breakout above $1.0950, or June 23 highs, with rising volumes would cancel this preview, allowing bulls to take charge.
What to Expect?
Traders expect a recovery from spot levels toward last week's highs. Even so, before then, traders should closely watch price action, aware that losses below $1.0880 could see bears take charge, possibly forcing prices to $1.0800.
Resistance level to watch: $1.0950
Support level to watch: $1.0800
Disclaimer: Opinions expressed are not investment advice. Do your research.
Based on the performance in the daily chart, euro prices were fixed in a tight trade range. The immediate trend is bearish, and $1.0900 is a critical reaction level. Moreover, the June 23 bar is an important candlestick as it shapes the short-term trajectory considering that it is wide-ranging and trading volumes are high.
#EURUSD Technical Analysis
Bears of last week could flow back, pressing the Euro even lower. For this to be valid, there must be a close below $1.0880 by today's close, aligning the emerging trend with the development of the June 23 bar. This, in turn, could allow risk-off traders to align with sellers of the end of last week, targeting $1.0800. Conversely, any breakout above $1.0950, or June 23 highs, with rising volumes would cancel this preview, allowing bulls to take charge.
What to Expect?
Traders expect a recovery from spot levels toward last week's highs. Even so, before then, traders should closely watch price action, aware that losses below $1.0880 could see bears take charge, possibly forcing prices to $1.0800.
Resistance level to watch: $1.0950
Support level to watch: $1.0800
Disclaimer: Opinions expressed are not investment advice. Do your research.
פרסומים קשורים
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.