EUR/USD Analysis: Potential Retest of the 1.0835 Support
Monday, 29 July 2024, 08:25
EUR/USD Trading Analysis
The Euro (EUR) is currently in a sideways trading pattern.
Expected Range
Traders can anticipate fluctuations within a range of 1.0835 to 1.0870.
Bearish Momentum
Market indicators suggest bears are preparing to retest the critical support level at 1.0835.
- If the support holds, a potential bounce may occur.
- A break below could lead to further declines.
Monitoring these key levels will be essential for traders.
Conclusion
In summary, traders should be vigilant as the EUR/USD pair approaches these significant price levels which could determine its short-term trajectory.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.