EURUSD → Attempting to change the global trend....

7 août 2024

EURUSD after the retest of the trend resistance is forming a correction, which is correlated with the growth of the dollar index. By the nature of the movement, the currency pair is in the bull market phase....



False breakdown of the symmetrical triangle resistance. The fundamental background for the currency pair is relatively positive. The dollar will continue its decline in the future, which is favorable for the euro. In this case, after the end of the correction, it is possible to retest the resistance with the aim of breaking through and further change of the global trend from neutral to bullish.
Technically, the focus is on 1.0916 and 1.095. Breakout and price consolidation above this zone will be the beginning of further bullrun.

Support levels: 0.5 fibo, 1.087, 0.7 fibo, 0.79 fibo.
Resistance levels: 1.0916, 1. 095

Both technically and fundamentally, we have positive preconditions for the growth continuation. The correction may take a little longer, but it is worth paying attention to the key zones indicated on the chart.

Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;)

Regards R. Linda!

8 août 2024

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12 août 2024

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14 août 2024

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+85 pips