3 min readEURO VS DOLLAR (EUR/USD):
Over the past week, EUR/USD has experienced a short-term upward correction, with the price climbing above 1.02900 for the first time this year.
A closer look at the technicals reveals that we are still trading within this midrange, but below the 50% level of the Fibonacci tool. This suggests that the price has rebalanced; however, given the size of this range, I anticipate the price might push lower before potentially resuming an upward move. On the RSI indicator, there are signs that the price may be “oversold,” so I’ll be watching this level closely for potential short-term pullbacks to the upside.
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