Dear valued friends, do you know what has happened and will happen with EURUSD?
Last week, EURUSD made a fresh breakthrough when it successfully reclaimed the weekly high at 1.10, despite a quick correction that occurred afterwards, causing EUR/USD to face pressure and drop to 1.0900 on Friday. The Fed Chairman did not mention interest rate cuts and boosted the USD.
However, the prospects still lean towards an upward movement. In case EUR/USD starts using 1.1000 (psychological and static level) as a support level, then 1.1040 (static level) and 1.1100 (psychological and static level) could be set as the next price targets as the price retraces to the 0.5 - 0.618 Fibonacci zone.
What about you? Do you think EURUSD will rise or fall next week?
Last week, EURUSD made a fresh breakthrough when it successfully reclaimed the weekly high at 1.10, despite a quick correction that occurred afterwards, causing EUR/USD to face pressure and drop to 1.0900 on Friday. The Fed Chairman did not mention interest rate cuts and boosted the USD.
However, the prospects still lean towards an upward movement. In case EUR/USD starts using 1.1000 (psychological and static level) as a support level, then 1.1040 (static level) and 1.1100 (psychological and static level) could be set as the next price targets as the price retraces to the 0.5 - 0.618 Fibonacci zone.
What about you? Do you think EURUSD will rise or fall next week?
