EUR/USD: Hot Spot at 1.0594, Opportunity or Challenge?
Updated
Looking at the 4-hour chart of the EUR/USD pair, I see a few key points that indicate the potential for the trend to develop in the near future. The pair has recently shown a fairly clear recovery from the lows, with the price currently trading near the important resistance level of 1.0594. This level has acted as resistance in the past and could now test the ability of traders again.
From a technical perspective, the price approaching this level could lead to two main scenarios: If EUR/USD can break above 1.0594, we could see the rally continue to higher levels, possibly reaching 1.0650 or higher.
From a technical perspective, the price approaching this level could lead to two main scenarios: If EUR/USD can break above 1.0594, we could see the rally continue to higher levels, possibly reaching 1.0650 or higher.
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