- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Bulls move in on a critical H4 resistanvce
EUR/USD Price Analysis: Bulls move in on a critical H4 resistanvce
- EUR/USD bulls run into the bear's lair, but a break of resistance will be highly positive.
- The bears will need to break the prior layer of H4 support.
EUR/USD was bid on the day as the greenback against six major currencies, was falling like a stone to 107.74 and lowing around 0.8% on the day, on pace to snap a two-day streak of gains. The dollar found no support from data showing US private payrolls increased far less than expected in May ahead of today's Nonfarm Payrolls. This leaves the technical outlook for the euro leaning bullish on a break of current resistance, but the bears could be lurking and the following illustrates both sides of the equation.
EUR/USD H4 chart
The price is moving in on a critical area of resistance and should this hold, then there will be significant bearish prospects for the foreseeable future the support structure gives out. Failing that, then the bullish scenario is as follows:
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
