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EURUSD / Bullish Trend Above 1.0740 with Key Levels to Watch

EUR/USD Outlook

  • Current Outlook:
    The price is expected to trade in the bullish zone, having reversed and stabilized above the pivot zone.

  • Bearish Scenario:
    The price would need to reverse and stabilize below 1.0707 to initiate a bearish trend.

  • Bullish Scenario:
    As long as the price remains above 1.0740, the bullish trend is expected to continue, targeting 1.0796.

  • Key Levels:
    - Pivot Line: 1.0740
    - Support Levels: 1.0680, 1.0620, 1.0505
    - Resistance Levels: 1.0796, 1.0850, 1.0915

  • Expected Trading Range:
    The price is anticipated to move between the resistance at 1.0796 and the support at 1.0707.

    In summary, maintaining a position above 1.0740 supports a bullish outlook, aiming for higher resistance levels. Conversely, trading below 1.0707 indicates a bearish trend with potential support targets.

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