EURUSD is currently experiencing a bearish trend following a significant bullish wave. However, the price line is now reacting to the Ichimoku cloud, indicating a possible shift in the trend. Additionally, the Relative Strength Index (RSI) is heading towards the overbought zone once again, suggesting that a bullish wave may be on the horizon. This analysis suggests that traders may want to keep a close eye on EURUSD as a potential opportunity to enter a long position. However, it is important to keep in mind that the market can be unpredictable, and traders should exercise caution and consider risk management strategies before entering any trade.
• There is a resistance level at 1.10000 followed by resistance at 1.10820 and 1.11000.
• There is a support level 1.09535. Below, there is 1.09210 and 1.08800.
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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