21.07.08 EUR/USD

8 Jul 2021

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EUR/USD, 2H.

1. The euro appears to have fallen this week to the bottom of the parallel line.

2. As the issue of announcing the minutes passed, it is expected that there will be a short-term upward trend from the bottom of the parallel line based on the announcement of the European Central Bank's monetary policy scheduled for today.

3. The baseline is expected to be 1.17827, the bottom support is expected to be S1, the top resistance is expected to be P-line, and the R1 line.

4. The target for the rise is 1.18517 line, which is close to the 0.618 line, when the Fibonacci returns after the fall on July 6.
The line was shot at the bottom on July 2 and rose, with a 694 point increase from the support line at the bottom to the peak of July 6.
Today, we set the target as the rising target because the target is quite close to the 0.618 return line (1.18517) when we entered the university based on the 1.17827 line.

- This post does not provide financial advice. It is for educational purposes only.