EUR/USD Outlook: Tracking the Downward Move Towards Key Supports
EUR/USD is showing signs of continuing its downward movement, possibly dropping further towards key support levels. The first support level to watch is at 1.0970, which could act as a temporary floor for the price. If the downward momentum persists, the next important support level is at 1.0900.
At either of these support points, there is a strong chance that buyers might step in, leading to a reversal. If these levels hold and the price bounces back, we could see EUR/USD rise towards the resistance level around 1.1200. However, if these supports break, it could signal further bearish pressure. Traders should monitor the price action closely around these levels to confirm potential entry or exit points.
At either of these support points, there is a strong chance that buyers might step in, leading to a reversal. If these levels hold and the price bounces back, we could see EUR/USD rise towards the resistance level around 1.1200. However, if these supports break, it could signal further bearish pressure. Traders should monitor the price action closely around these levels to confirm potential entry or exit points.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.