EUR/USD Analysis

[Uritron]

Today, the EUR/USD pair is mostly rising from 1.0615 to 1.0650, and on the hourly chart, it has risen slightly above the MA (200) H1 moving average (1.0590). On the four-hour chart, the situation is similar. Technically speaking, the strong resistance level of 1.0695 may keep prices from further growth. In the event of its breakdown, the pair may rise to 1.0740. The lower boundary of 1.0520 represents a strong support level.

⦁ Resistance levels are 1.0675–95 and 1.0740–1.0770.
⦁ Support levels are 1.0590, 1.0520, and 1.0480–95.

The main scenario for the pair suggests a break of the MA (200) H1 (1.0590) and a decline to 1.0520 (Nov. 1 low).

The alternative scenario implies a rise to 1.0675–95 (Oct 24 and 31 highs) and, maybe, 1.0740 (Sep 20 high).

[Principio Mazzanti]

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