eur/usd analysis

The EUR/USD pair recently dropped to the 1.0350 level, marking a significant bearish movement in the ongoing downtrend. However, on Friday, 20th December 2024, the pair showed a bullish correction, closing the weekly candle near the 1.0430 level. On the H4 chart, the price is trading near the 50 EMA, while the 200 EMA remains significantly above, signaling that the bearish trend is still intact. Key Resistance and Support Levels Resistance Levels: 1.0520, 1.0610 Support Levels: 1.0330 and potentially lower The downtrend is expected to persist, with the pair likely targeting the 1.0330 support level. Any upward movement could offer…

The EUR/USD pair closed the previous week at 1.0500, following a period where the price fluctuated between 1.0600 and 1.0450. On Friday, the pair experienced significant bearish momentum, briefly dipping to 1.0450, but a slight pullback allowed the price to recover and close at 1.0500. This suggests that 1.0500 may be providing some support for now. Technical Outlook On the 4-hour chart, both the 50 EMA and 200 EMA are acting as dynamic resistance, with the price remaining well below the 200 EMA. This indicates the prevailing downtrend in the market. Immediate resistance is seen at 1.0570, which could limit…

The EURUSD pair recently attempted to break through the 1.0630 resistance level but failed to maintain upward momentum, pulling back to its current price of 1.0530. On the 4-hour chart, the price remains below both the 200 EMA and the 50 EMA, indicating that bearish sentiment continues to dominate the market. Key Technical Levels: Resistance: The 1.0630 level is proving to be a critical barrier, capping any attempts for upward movement. Support Targets: 1.0470: The first key support level lies at 1.0470, a potential target as the price declines further from the current 1.0530 level. 1.0400: If the bearish trend…