The EUR/USD has declined to 1.0240 after breaking through the 1.0300 level with significant momentum, reaching as low as 1.0211 during a volatile week.
Currently, there is potential for consolidation between the 1.0200 significant support level and the 1.0273 resistance. However, the 1.0255 monthly S1 level, now acting as resistance, may limit buyer momentum. A break below 1.0211/00 could lead to further declines towards the 1.0155 monthly S2 level.
Should the pair manage to rise above 1.0273, retracements to 1.0300/12 and 1.0325/31 are possible within the broader downward trend.
Happy weekend!
Weekly volatility (range) 127 pips
Option expiries for Monday: 1.0475 (EU4.09b), 1.0300 (EU3.35b), 1.0200 (EU2.98b) Source: financialjuice.com
Significant news - US PPI, US CPI, US Retail Sales, US Industrial Production, US Housing Starts Number.
Weekly chart with yearly support and resistance
4 hours
Currently, there is potential for consolidation between the 1.0200 significant support level and the 1.0273 resistance. However, the 1.0255 monthly S1 level, now acting as resistance, may limit buyer momentum. A break below 1.0211/00 could lead to further declines towards the 1.0155 monthly S2 level.
Should the pair manage to rise above 1.0273, retracements to 1.0300/12 and 1.0325/31 are possible within the broader downward trend.
Happy weekend!
Weekly volatility (range) 127 pips
Option expiries for Monday: 1.0475 (EU4.09b), 1.0300 (EU3.35b), 1.0200 (EU2.98b) Source: financialjuice.com
Significant news - US PPI, US CPI, US Retail Sales, US Industrial Production, US Housing Starts Number.
Weekly chart with yearly support and resistance
4 hours
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