EUR / USD maintains its breakout above 1.1990 / 97 and the bullish scenario. Analysts Swiss credit they expect greater strength to 1.2103 / 13, with room to reach the possible downtrend since the beginning of January, seen today at 1.2130.
Support moves to 1.1995 / 90
“EUR / USD maintains its breakout above key resistance from its 55-day average and mid-March highs at 1.1992 / 97 completing a big bullish day in the process and this suggests a more important low has been set nearby. from the key retracement support at 1.1695 (38.2% retracement of the 2020/2021 uptrend). We expect further strength in the resistance at the March high and the 61.8% retracement of the 2021 drop at 1.2103 / 13, with the possible downtrend from the 2021 high just above 1.2127 / 30. We would look for this last area and then ideally limit a pullback in what appears to be a wider lateral range. “
“Above 1.2130 it would open the door for a move back to the February high at 1.2243“.
“The Support moves to 1.2033 initially, then to 1.2015, with 1.1995 / 90 ideally holding up to keep immediate risk higher. We could then see a drop back to 1.1946 / 42, but only back here would a false breakout higher be warned and a short-term top marked instead. “
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
