Pivot point: 1.1765
The preferred scenario: Entering long positions at the highest levels of 1.1765, targeting the levels of 1.1830 and then the 1.1860 .
Alternative scenario: entering short deals at the lowest levels of 1.1765, targeting the 1.1700 and then the 1.1640 levels.
Commentary: The EUR/USD pair ended last week's trading with significant gains, as we witnessed a change in the general trend from descending to recording a rising wave, through the ascending price channel, Which worked to raise the price from the levels of 1.1700 to the levels of 1.1800, which is expected to witness a correction wave from those levels, within the framework of retesting the levels of 1.1765 to 1.1755, and then completing the current ascending wave, with targeting the previously mentioned levels above. Especially in light of the presence of the liquidity flow indicator in overbought areas, which supports the expected corrective wave at the beginning of this week's trading.
