Hello dear traders! What do you think about EURUSD today?
After a strong increase on Wednesday, EUR/USD turned bearish on Thursday, ending the day in the red. The downward trend continued into Friday, with temporary trading fluctuating around the 1.0800 level.
The strength of the US dollar has truly reversed the direction of EUR/USD, aligning perfectly with our previous forecasts.
Looking ahead: The currency pair is currently moving through a significant support zone as marked on the chart. There is a possibility of a recovery, aiming to retrace to the Fibonacci 0.5 - 0.618 retracement level while testing the 34 and 89 EMA.
A successful breach above this level could open up further recovery phases. Conversely, breaking below the current support level would present a golden opportunity for sellers. Let's watch and see what unfolds with this currency pair!