EURUSD → Favorable fundamentals for growth

22 thg 12, 2023

EURUSD is strengthening and continues to give signs that the price will continue its rise on the back of a weaker dollar due to weaker GDP than analysts expected.



On D1, the price is testing the 1.1000 resistance area (important zone). A reversal V-shaped pattern is being formed, followed by numerous retests of the line. The pre-breakdown consolidation and positive fundamental background for the euro are doing their job.
Ahead of us today is CTGO, PCE at 13:30 GMT. It will not play a special role after GDP. Analysts expect the publication of roughly the same data as in the last period (with a slight correction). Indicators higher than expected will positively influence the dollar, while weaker data will strengthen the fall of $
The price is making a breakout attempt. A consolidation of the price above 1.1000 will form a bullish potential, which will be a strong support for the pair.
On H4 the price is still in the range of 1.1017 - 1.0830. Another resistance retest is formed after a small correction. A breakout of the level is expected with subsequent growth to the trend resistance. Moving averages support the market.

Support levels: 1.099, 1.0965, 1.093
Resistance levels: 1.1000, 1.1017

We expect a breakthrough of the above-mentioned area and continuation of the currency pair growth in the framework of the uptrend.

Regards R. Linda!

22 thg 12, 2023

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On the background of resistance retest, the price breaks this boundary. Consolidation of the price above the level of 1.100 - 1.102 will form a bullish potential.
Fundamental background is favorable.
We continue to wait for further growth to 1.142.

27 thg 12, 2023

Ghi chú

The realization of the bullish scenario "range resistance breakout" is being formed. Target 1.1142

27 thg 12, 2023

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29 thg 12, 2023

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