FX.co ★ EUR/USD

EURUSD Technical Analysis: The current study of the EUR/USD currency pair's price movement might be discussed. But if the monthly resistance or sales zone is rising, a bullish rise is probably in store. However, depending on how it reacts to a rebound or breakdown, the situation is almost 50/50, just as with any level. The H4, H-1, M-30, and M-15 charts' technical indications point to a transitory zone near the top, suggesting a possible decline. Throughout Friday, the EUR/USD price stayed in a small range. That is to be expected given that the trade week ended with lower volatility in preparation for the holidays. I'm still focused on maintaining this instrument's bullish momentum as the next week starts with Christmas break. In the event that this situation persists, I will keep an eye on the resistance level around 1.11595 and expect two possible outcomes close to this level. In the first, prices consolidate above 1.11595 and then continue to rise toward 1.12855. To decide on the next course of action, I will wait for a trade setup to materialize. Additionally, there is a far-off optimistic goal of 1.15046, which is dependent on market movements and news developments. Alternatively, when the resistance level at 1.11595 approaches, a strategy including a turning candle and a continuation of the bearish action may take place. In the event that this occurs, I anticipate optimistic signs for a possible higher rise and expect the price to recover to the support level around 1.10191. Bullish signals are anticipated close to the specified support level, in line with the general global bullish trend, despite a farther-off negative goal around 1.08620. In conclusion, I expect ongoing bullish movement up to the closest barrier level next week, modifying methods in response to market circumstances.