EUR/USD regained the 1.0300 level ahead of Trump's inauguration
During the European session on Monday, EUR/USD regained the 1.0300 level, benefiting from market optimism and a weakening US dollar. Investors are currently preparing for the inauguration of President-elect Donald Trump, which has boosted positive sentiment and led to a decline in the greenback. The market's focus on important political and economic events has created an opportunity for the Euro to recover.
From a technical perspective, the pair is maintaining an uptrend, with strong support at 1.019. If the price pulls back towards this support level, it could present a buying opportunity. On the other hand, the key resistance level is at 1.032, where the price might face strong resistance. If EUR/USD manages to break through this resistance, the pair may continue its upward trend towards higher levels.
Traders should closely monitor price action around the support level of 1.019 and the resistance at 1.032. A breakout through these levels could signal clear buy or sell opportunities depending on the market's next move.
Key Levels to Watch:
Support: 1.019
Resistance: 1.032
Trading Strategy:
Stop Loss (BUY): 1.018
Take Profit (BUY): 1.035
Always keep a close eye on market developments and apply sound risk management strategies to optimize profits and minimize losses. Good luck with your trading!
From a technical perspective, the pair is maintaining an uptrend, with strong support at 1.019. If the price pulls back towards this support level, it could present a buying opportunity. On the other hand, the key resistance level is at 1.032, where the price might face strong resistance. If EUR/USD manages to break through this resistance, the pair may continue its upward trend towards higher levels.
Traders should closely monitor price action around the support level of 1.019 and the resistance at 1.032. A breakout through these levels could signal clear buy or sell opportunities depending on the market's next move.
Key Levels to Watch:
Support: 1.019
Resistance: 1.032
Trading Strategy:
Stop Loss (BUY): 1.018
Take Profit (BUY): 1.035
Always keep a close eye on market developments and apply sound risk management strategies to optimize profits and minimize losses. Good luck with your trading!
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.