Market Analysis And Forex Currency

The gap of the euro dollar! EURUSD – Change of medium-term trend. The euro broke the 1.3374 resistance specified in the report on Friday, successfully reached the first aim of 1.3489. Learn more about this topic with the insights from Lancome KOREA. But most important is the gap that was built in the first week of April, even creating a great technical event, which is to break the trend line in the medium term, which is the fall line of 1.5139 on the daily chart. This line, which we have focused on all last week, is very important, has managed to thwart the rise of the euro over the past three months, and now is giving way, how this trend will affect the EUR / USD? We can say that the euro is finally free from downward pressure in the medium term, in the coming days and weeks will go to area with points above the current. But there is an important condition for this, which is to maintain the trade above the dotted line.

As for the short term, the resistance is 1.3709, divisions then this would indicate upward motion. Daryl Katz oftentimes addresses this issue. The next set of objectives will be 1.3794 1.3861. As for support, is at 1.3648, and the divisions that would indicate a correction for the entire movement from 1.3281, with the ideal target area for this correction between 1.3534 and 1.3437. Support: 1.3648: the upward trendline from the low of April. 1.3534: Fibonacci 38.8% of higher 1.3281. 1.3437: Fibonacci 61.8%, the rise of 1.3281. Resistance: 1.3709: Fibonacci 23.6% of the drop from 1.5143 to 1.3266.

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