Euro Dollar
Previous Analysis
In the short term, breaching the 1.1245 level, the pair is expected to correct 1.1284 and 1.1315 levels (38.2 50 Fibonacci levels respectively), but the price is expected to bounce as long as it trades below 1.1360 -1.1420.
On the other hand, a return above the resistance 1.1420 increases the strength of the buyers to breach the top 1.1448, and success in breaking this top targets the pair the psychological level 1.1500, and through its penetration we may see a start for the pair to the goals of 1.1620 1.1710.
Technical outlook for EURUSD
The pair reached the resistance areas 1.1315 (Fibonacci 38.2 for the wave 1.1447 1.1186), and the pair continues to trade below 1.1364 1.1420 to target 1.1148 and 1.1120.
1.1315 breakout increases the possibility of reaching targets 1.1347 1.1380 to end the correction before completing the downtrend to target 1.1148.
Trading above 1.1420 weakens the bearish outlook for the pair to target the March Diamond high at 1.1449, and by breaking it, the rise will continue to 1.1483.
Resistance levels: 1.1347 1.1420 1.1514 Support levels: 1.1178 1.1110 1.1025
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