EURUSD Trendline Watch

The euro currency is attempting to move higher against the US dollar as the RSI indicator on the daily time frame continues to show that the EURUSD is oversold. The EURUSD bulls case will look strong this week if the pair can stabilize above key trendline resistance, around the 1.1890 level. The 1.2000 level is a possible target this week if bulls can make gains above the mentioned trendline.

The EURUSD pair is only bullish while trading above the 1.1890 level, key resistance is found at the 1.1970 and 1.2050 levels.

EURUSD pair is only bearish while trading below the 1.1890 level, key support is found at the 1.1800 and 1.1700 levels.

These trading ideas can only be applied to the intraday trading strategy and remain valid for 24 hours after publication. They are based on historical data and analysis and do not guarantee constant profit. You remain solely responsible for your decisions and the financial risks you take. In case your pending order is not executed within a single trading day, please, do not forget to cancel it.

Featured Analysis

Learn Forex Trading