[ad_1]

Today’s EUR/USD Analysis: Will EUR/USD break through the 1.1790 resistance to 1.1848?

Current technical status:
Following the correction from the 1.17905 level, the EUR/USD pair is trading above the support at 1.17533 and is expected to break through the resistance and target 1.18485 or return to selling pressure if the main support level is breached.

This could leave us facing one of the following expected scenarios:

1. Bullish scenario:
It broke through the 1.17905 level and stabilized above.
If it remains stable, we expect a move towards the 1.18485 level.

2. Scenario:
Failure to move above 1.17905 could lead to sideways movement below this level.

3. Bearish scenario:
Condition: Break through the 1.16668 level and hold below.
Target: Extend the decline to target 1.16265 level.

Monitoring level (critical level):
Resistance: 1.17905 – 1.18485
Support bits: 1.17533 – 1.16668
=====================================================================

Any opinions, news, research, analyses, prices or other information contained are general market commentary and do not constitute investment advice. ThinkMarkets disclaims all liability for any financial loss or damage (without limitation) or for any loss of profits arising directly or indirectly from the use of or reliance on such information.

[ad_2]

Source link