EURUSD / Bullish above pivot zone
US Dollar Mixed Early Monday; Focus on GDP and PCE Price Data
The EUR/USD has firmly established itself in a bullish zone after breaking through this year’s resistance and stabilizing above it. As long as the pair continues to trade above 1.11420 and 1.10830, the bullish trend is expected to persist, with a target of 1.12570 during the week.
There remains a possibility of a retest down to 1.1141 or 1.1083 before the bullish trend resumes.
Key Levels:
Pivot Line: 1.11410
Resistance Levels: 1.12570, 1.13400, 1.14500
Support Levels: 1.10800, 1.09960, 1.09150
Expected Trading Range for Today: 1.10828 to 1.12560
Trend: Bullish trend above pivot zone
The EUR/USD has firmly established itself in a bullish zone after breaking through this year’s resistance and stabilizing above it. As long as the pair continues to trade above 1.11420 and 1.10830, the bullish trend is expected to persist, with a target of 1.12570 during the week.
There remains a possibility of a retest down to 1.1141 or 1.1083 before the bullish trend resumes.
Key Levels:
Pivot Line: 1.11410
Resistance Levels: 1.12570, 1.13400, 1.14500
Support Levels: 1.10800, 1.09960, 1.09150
Expected Trading Range for Today: 1.10828 to 1.12560
Trend: Bullish trend above pivot zone
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