The EUR/USD chart shows bullish momentum, with the price above a significant ascending trend line, indicating potential further upward movement. A possible scenario involves a bullish bounce off the 1st support at 1.1098 (38.20% Fibonacci retracement), leading the price towards the 1st resistance at 1.1253 (61.80% Fibonacci retracement and 100% Fibonacci projection), adding to its significance. Additionally, the 2nd support at 1.1009 (61.80% Fibonacci retracement) and the 2nd resistance at 1.1509 (overlap resistance) could play crucial roles in potential price movements.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart shows bullish momentum, with the price above a significant ascending trend line, indicating potential further upward movement. A possible scenario involves a bullish bounce off the 1st support at 1.1098 (38.20% Fibonacci retracement), leading the price towards the 1st resistance at 1.1253 (61.80% Fibonacci retracement and 100% Fibonacci projection), adding to its significance. Additionally, the 2nd support at 1.1009 (61.80% Fibonacci retracement) and the 2nd resistance at 1.1509 (overlap resistance) could play crucial roles in potential price movements.
The material has been provided by InstaForex Company – www.instaforex.com
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