3 min readEURO VS DOLLAR (EUR/USD):
The EUR/USD pair continues to decline, approaching “extreme” levels of interest on the higher timeframes. It has recently tapped into a significant weekly support zone, which aligns perfectly with the psychological level of 1.05000.
Examining the technicals more closely, I will now be watching for potential short-term pullbacks to higher price levels before the downward trend resumes. Specifically, I’m interested to see if the price can retrace to the 50% Fibonacci level, rebalancing and mitigating higher supply before rolling over again. Additionally, the RSI indicator showed slight signs of the asset being “oversold” when it reached the 30% level, supporting the possibility of a short-term pullback.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
