Signs of a Turning Point?
After a period of sideways trading, EUR/USD has shown important signals in. The price broke below the descending channel, but is currently trying to recover. This signal highlights the uncertainty in the market and suggests that a big move could be imminent.
The key resistance level now is 1.09500, where the price has failed to break in previous attempts. The current recovery is likely to face strong selling pressure at this area. If the price fails to hold this level, a deeper decline could occur, dragging the price to the next support zone at 1.09200.
The key resistance level now is 1.09500, where the price has failed to break in previous attempts. The current recovery is likely to face strong selling pressure at this area. If the price fails to hold this level, a deeper decline could occur, dragging the price to the next support zone at 1.09200.
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