EUR/USD: Current Movement Assessment

7 days agoOn the 1-hour chart of the EUR/USD pair. The current price level near 1.10416 could be seen as a temporary balance zone, but with it being below the moving averages, the bearish trend remains strong.

An important area to watch is around 1.10788, which could act as a key resistance level in case the price bounces higher. If the price breaks above this level, it could lead to a short-term bullish trend with the next target at the higher Fibonacci levels.

To trade effectively, investors should consider placing buy orders if the price breaks above 1.10788, with potential take profit points at 1.11000 and stop losses can be considered below the current support at 1.10200, to protect capital against possible negative movements.