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Abstract:EUR/USD is mildly bullish and could extend its advance towards 1.1800.
The EUR/USD pair moved on sentiment, dipping ahead of Wall Streets opening as stocks traded with a soft tone, later bouncing as equities jumped while government bond yields reached fresh weekly highs.
EUR/USD short-term technical outlook
From a technical perspective, the EUR/USD pair is mildly bullish, although additional confirmations are required. The 4-hour chart shows that the pair settled a few pips above a bearish 100 SMA while meeting buyers around a bullish 20 SMA. Technical indicators remain within positive levels but lack directional strength. The pair could extend its advance towards 1.1790, but gains beyond the latter are unlikely at this point.
Support levels: 1.1720 1.1685 1.1640
Resistance levels: 1.1790 1.1820 1.1865
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The correction has failed, the downward trend is in full swing again: the 13th figure is on the horizon.
The EUR/USD pair oscillated in a narrow range during the early part of the trading action on Monday.
The EUR/USD forecast sees the pair registering a massive drop to as low as 1.1528 level.
The EUR/USD pair staged a modest intraday bounce from over one-week lows touched earlier on Wednesday, albeit lacked any follow-through.