EURUSD → Favorable background for the currency pair decline

23 févr. 2024

EURUSD confirms the boundaries of the range 1.0887 - 1.0724 and is inside the flat. Touching resistance and the news on Thursday define medium-term targets for the currency pair.

Yesterday the market received a portion of positive fundamental data for $, based on which the regulators continue to support the dollar index, which forms a candlestick pattern that portends further growth, which may negatively affect the euro.
The price forms touching 1.0887 and subsequent decline to 1.0830. At the moment consolidation is forming below this level, which can accumulate the potential for further decline to the area of 1.0724.

Resistance levels: 1.0830, 1.0887
Support levels: 1.0780, 1.0724

I expect a fall on the basis of TA and FA. Consolidation below 1.0830 forms the potential for further decline to 1.0780 and even to 1.0724.

Regards R. Linda!

23 févr. 2024

Note

The situation remains the same. It is possible to retest the level above before further decline