EURUSD: Indecision & Pivots
Hello,
EURUSD is currently experiencing a period of indecision, with opinions on its future direction varying widely. While the pair has historically respected an upward trendline, with the 1Y low at 1.033215 serving as a key support level, recent price action has been sideways.
The most recent support level was established at 1.045325. Despite this support, the prevailing sentiment remains bearish. A sustained break below 1.045325 could signal further downside.
Conversely, a sustained break above the 1W/1M pivot point (PP) would be required to shift the near-term outlook to bullish.
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TradeWithTheTrend3344
EURUSD is currently experiencing a period of indecision, with opinions on its future direction varying widely. While the pair has historically respected an upward trendline, with the 1Y low at 1.033215 serving as a key support level, recent price action has been sideways. The most recent support level was established at 1.045325. Despite this support, the prevailing sentiment remains bearish. A sustained break below 1.045325 could signal further downside.
Conversely, a sustained break above the 1W/1M pivot point (PP) would be required to shift the near-term outlook to bullish.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
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