See also
06.06.2023 10:04 AM
The EUR/USD chart currently shows a weak bullishish momentum. There is a possibility for the price to continue its bullish movement, targeting the first resistance level.The first resistance at 1.08069 is a significant level, acting as an overlap resistance and coinciding with key Fibonacci levels, suggesting it could trigger market activity and a potential trend reversal. Further up, the second resistance at 1.1.10447 serves as an overlap resistance at the multi-swing high, offering a strong barrier against further price increases.On the other hand, the first support at 1.05164 acts as an overlap support at the multi-swing low, potentially acting as a floor.It is also identified as a pullback support, likely to pose a substantial support to downward momentum, attracting buyers into the market.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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