EUR/USD: Waiting for a Decisive Move
The current chart shows that EUR/USD is hovering around a key area, which could be a turning point for the pair's next trend. With the current price near the 34 EMA and 89 EMA, this is a key support area that if held could provide momentum for a new rally.
The price is currently centered around 1.11839, just below the short-term resistance level, which shows some hesitation on the part of investors, waiting for further signals from the market or economic news that could affect the pair. A breakout above this level could demonstrate the strength of the uptrend and open the way for a higher target at 1.12200.
Meanwhile, the support area with a lower limit is at 1.11000. A drop below this level could lead to a deeper bearish move, with the next target likely being 1.10022.
The price is currently centered around 1.11839, just below the short-term resistance level, which shows some hesitation on the part of investors, waiting for further signals from the market or economic news that could affect the pair. A breakout above this level could demonstrate the strength of the uptrend and open the way for a higher target at 1.12200.
Meanwhile, the support area with a lower limit is at 1.11000. A drop below this level could lead to a deeper bearish move, with the next target likely being 1.10022.
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