Observe the current Forex analysis for EURUSD, focusing on the return towards the weekly resistance point at 1.0833.
Let's closely monitor the price dynamics of EURUSD on both the daily and 15-minute charts.
The price has experienced a rally, bringing it closer to the significant weekly resistance point at 1.0833.
This level, ranging from 1.0833 to 1.0841, represents the weekly resistance and also corresponds to the high point reached on Friday.
Our attention is drawn to the possibility of the price rallying momentarily but encountering a barrier at this intra-day resistance zone. Such an occurrence could potentially lead to a subsequent downward movement, with the aim of reaching the daily support level at 1.0778.
Let's closely monitor the price dynamics of EURUSD on both the daily and 15-minute charts.
The price has experienced a rally, bringing it closer to the significant weekly resistance point at 1.0833.
This level, ranging from 1.0833 to 1.0841, represents the weekly resistance and also corresponds to the high point reached on Friday.
Our attention is drawn to the possibility of the price rallying momentarily but encountering a barrier at this intra-day resistance zone. Such an occurrence could potentially lead to a subsequent downward movement, with the aim of reaching the daily support level at 1.0778.
