Earlier today, in my introductory video, I highlighted the next major support level for the EUR/USD. This level was shown and highlighted between 1.1131 and 1.11399. Here is the clip…
So what happened?
Below is the chart of today’s price action. The price did not stop lower between the level shown in the video above from the beginning of the US trading day. The price rose to 1.1175. The current price is at 1.1164.
What’s next?
The 1.1184 to 1.11897 level remains a target on the upside. The 1.1184 level was initiated as a technical level dating back to 2021. The other swing highs date back to August through 1.11897. The point is that buyers stopped near that area on Wednesday, Thursday and Friday. The high of the year reached in August extended to the 1.1200 level. This will also be important on the upside.
On the downside, the holding of the 100-hour moving average and the swing level has increased the importance of the levels.
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