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Writer's picturePeet Serfontein

Analyst Thoughts: EUR/USD Medium-Term

A BULLISH PHASE TO 1.1300 / 1.1350 IS LIKELY.


  • The prevailing perspective that the pair will experience a bullish trend towards Resistance Area 2 (RA2), followed by a swift decline towards Support Level 4 (S4), continues to hold merit.

  • Over the longer term, we anticipate fluctuating market conditions within the broad range defined by RA2 and S4.

  • During Phase B of the bull market, there was a significant reversal from Resistance Level 1 (R1), indicating a change in market direction. Currently, we are observing the pair's progression towards a consolidated support zone at S2 and S, aligning with short-term expectations.

  • As we navigate through Phase C/D, an upward trajectory towards RA2 is deemed probable, contingent upon the pair's ability to sustain above the critical support juncture at S1 during the ongoing decline.

  • The neutral territory for the medium term is demarcated by the range between R1 and S2, indicating a zone of equilibrium where bullish and bearish forces are balanced.   


Target and Re-assessment Levels:

Important Levels: 1.0988 and 1.0685

Primary Trend and Target Levels: Gains to 1.1300, then down to 1.0245

Monthly Range: 1.0670 to 1.0955

Prevailing Trend and Target Levels: Downside towards 1.0685

Technical Rating: Medium



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