EURUSD / Bullish Trend Above 1.0740 with Key Levels to Watch

19 Jun

EUR/USD Outlook

• Current Outlook:
  The price is expected to trade in the bullish zone, having reversed and stabilized above the pivot zone.
  
  
• Bearish Scenario:
  The price would need to reverse and stabilize below 1.0707 to initiate a bearish trend.
  
  
• Bullish Scenario:
  As long as the price remains above 1.0740, the bullish trend is expected to continue, targeting 1.0796.
  
  
• Key Levels:
  - Pivot Line: 1.0740
  - Support Levels: 1.0680, 1.0620, 1.0505
  - Resistance Levels: 1.0796, 1.0850, 1.0915
  
  
• Expected Trading Range:
  The price is anticipated to move between the resistance at 1.0796 and the support at 1.0707.
  
  In summary, maintaining a position above 1.0740 supports a bullish outlook, aiming for higher resistance levels. Conversely, trading below 1.0707 indicates a bearish trend with potential support targets.