EUR/USD Daily Chart Analysis For Week of Dec 27, 2024
Technical Analysis and Outlook:
During the current abbreviated trading week, the Eurodollar is exhibiting a narrow trading range above the Outer Currency Dip level of 1.035. Current analysis suggests that the Euro is poised to resume its upward trajectory, with anticipated targets of Mean Resistance 1.051 and a potential extension to Mean Resistance marked at 1.060. It is important to note that a pull-down movement may occur towards Mean Support at 1.039; with a possible retest of the completed Outer Currency Dip level of 1.035, before resuming the upside movement.
During the current abbreviated trading week, the Eurodollar is exhibiting a narrow trading range above the Outer Currency Dip level of 1.035. Current analysis suggests that the Euro is poised to resume its upward trajectory, with anticipated targets of Mean Resistance 1.051 and a potential extension to Mean Resistance marked at 1.060. It is important to note that a pull-down movement may occur towards Mean Support at 1.039; with a possible retest of the completed Outer Currency Dip level of 1.035, before resuming the upside movement.
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