In the last article I wrote about the euro being around 15-month lows against the dollar.
I also wrote about EURUSD possibly touching 1.1235 dollars for as long as the 1.1500 resistance held.
The euro is currently bouncing off that 1.1235 support as per the Daily chart below and meeting a ceiling of offers around 1.1380 dollars.
Dropping down to the H4 and H1 charts below, EURUSD looks like it’s trading sideways for now below 1.1380 for now. Price action against the 60MA on the H1 chart suggests the H1 mini uptrend may weaken soon.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Price action would have to cross their respective colored zones to confirm any meaningful change or extension in trend.
As always, all prior support and resistance lines were still respected and will likely continue to be.
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All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
