The EURUSD price line has recently experienced a significant bearish wave, breaking below the Ichimoku cloud and approaching a support zone. If the price fails to break below this level, it has the potential to trigger a sharp bullish wave, indicating a potential reversal in market sentiment. Traders should closely monitor the price behavior and look for confirming signals before considering long positions, paying attention to key resistance levels to validate the strength of a potential bullish wave. Diligent analysis and prudent decision-making are essential in navigating these market conditions and capitalizing on potential trading opportunities.
• There is a resistance level 1.09350 followed by resistance at 1.09725 and 1.10000.
• There is a support level 1.08482. Below, there are 1.08300 and 1.08150.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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