FX.co ★ EUR/USD

EURUSD Price Analysis: In the next trading session, we'll see how the EUR/USD pair moves. On the medium-term H1 chart, the EUR/USD pair is rising. The pair is currently trading below the 1.15929 supply zone and around the 1.16039 level. Further upward movement is being impeded by this supply zone. The next high of 1.15489 would be accessible with a break over 1.15829. The strength of the buying will be confirmed if the currency stabilizes within the broken range. The trend can reverse if the price drops below 1.15389. Therefore, we advise purchasing at a lower price if a reversal pattern emerges. The pair has nearly hit the resistance level of 1.15199 and has broken the resistance level of 1.16131 for the first time. In order to prioritize additional upward movement, we anticipated that this level would be broken the next day.

The global economic crisis has had a huge impact on the EUR/USD pair, which is currently going through a correction. It has, however, dropped from its peak and is still erratic. Upward or downward movements are not given priority when a downtrend is dominating. We are currently buying at support levels and selling at resistance levels, as we advise. We advise purchasing this pair before it hits the resistance level since it has reached a support level. The priority support level will be 1.17145 if the pair recovers and breaks through the 1.16131 support level. On the other hand, the goal will be the resistance level of 1.14628 if it drops below 1.15199. Another crucial indication for this currency pair is the US dollar index, which must be taken into account. Keep searching for ways to sell this pair.