Euro reversed sharply off confluence resistance final week and the latest restoration in opposition to the US Dollar could also b
Euro reversed sharply off confluence resistance final week and the latest restoration in opposition to the US Dollar could also be weak whereas beneath this key threshold. These are the up to date targets and invalidation ranges that matter on the EUR/USD worth charts. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Euro worth setup and extra.
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Euro Value Chart – EUR/USD Every day
Chart Ready by Michael Boutros, Technical Strategist; EUR/USD on Tradingview
Technical Outlook: Euro posted an outside-day reversal off confluence resistance final week across the 1.11-handle with the pullback rebounding off slope assist early within the week. Key near-term resistance stays with the 61.8% retracement at 1.1101 with a breach / shut above wanted to gas the following leg increased in EUR/USD. Preliminary assist rests on the 25% parallel (presently ~1.1060s) with bullish invalidation now raised to the target month-to-month open at 1.1023.
Euro Value Chart – EUR/USD 120min
Notes: A more in-depth take a look at Euro worth motion reveals EUR/USD buying and selling inside the confines of a near-term ascending pitchfork formation extending November lows. Word that the median-line converges Fibonacci resistance with the September excessive and Could lows highlighting a crucial vary at 1.1104/10 – a topside breach…