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- EUR/USD Price Analysis: Bulls eye 1.0950 for the days ahead
EUR/USD Price Analysis: Bulls eye 1.0950 for the days ahead
- EUR/USD is meeting a critical level of support.
- Bulls eye a significant correction for the days ahead.
EUR/USD is back to flat in the mid-Asian session as the price moves back into line with the dominant trend. The bears are on the prowl but the weekly and daily chart offers a compelling case for a significant bullish correction for the days ahead.
EUR/USD weekly chart
The price is meeting a weekly support area while the M-formation could be a signal to the bulls in anticipation of a reversion to the neckline of the pattern.
EUR/USD daily chart
From a daily perspective, the 38.2% Fibonacci retracement level aligns with the prior support near 1.0950, an area of potential resistance.
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