EURUSD bullish in DAYTRADING

21 thg 7, 2024

The EUR/USD currency pair made a strong advance early last week, achieving the highest daily close in three months. The close was near the top of the day's range during the breakout, with the closing price above the technically significant level of $1.0920. This prompted many trend traders to take long positions. However, the price turned bearish when it failed to surpass the nearby resistance level of $1.0945, causing the price to drop. The bearish trend was further supported by the strength of the US Dollar at the end of the week.