EUR/USD Daily Chart Analysis For Week of Aug 23, 2024
Technical Analysis and Outlook:
The Eurodollar showed strong upward momentum throughout this week's trading session. It reached our Key Resistance at 1.111 and completed the Inner Currency Rally at 1.112. Further buying pressure pushed the price to complete an extended Inner Currency Rally at 1.120, with the potential to reach the completed Outer Currency Rally at 1.124. Conversely, selling pressure at the current level could drive the price down to our Support level of 1.111.
The Eurodollar showed strong upward momentum throughout this week's trading session. It reached our Key Resistance at 1.111 and completed the Inner Currency Rally at 1.112. Further buying pressure pushed the price to complete an extended Inner Currency Rally at 1.120, with the potential to reach the completed Outer Currency Rally at 1.124. Conversely, selling pressure at the current level could drive the price down to our Support level of 1.111.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.