Euro Analysis (Daily Time Frame)
During the past week, the Euro was unable to break above its previous resistance at 1.05138 and spent five trading days in a pullback toward that same level at 1.04295. It remains to be seen whether this week the pullback will be completed by breaking above 1.05138.
Primary Scenario (More Likely):
Given the higher lows observed within the current range and the divergence noted in previous weeks, the main expectation is for the Euro to resume its upward move. In this case, it must first stabilize above the resistance at 1.05138 to then target levels at 1.06310 and 1.07616.
Alternate Scenario (Less Likely):
If the pullback fails to complete and selling pressure intensifies to the extent that the recent low at 1.04005 is broken and the price stabilizes below it, the Euro could drop to the next support level around 1.02850.
Euro Analysis (4-Hour Time Frame)
Primary Scenario:
It is expected that the Euro will find support around 1.04608. After breaking and stabilizing above 1.05138, the price could move upward, with the initial target being 1.06310.
Alternate Scenario:
If the Euro fails to secure support in its current zone and selling pressure pushes the price below the support at 1.04014, it could continue its decline to levels around 1.03169 and then 1.02124.
Euro Analysis (15-Minute Time Frame)
Primary Scenario:
Considering the recent downtrend and the weakness of the subsequent bullish candles, it is expected that after a slight upward move, the Euro will resume its decline by breaking the latest low at 1.04497 and drop to around 1.04190, after which a reversal might occur.
Alternate Scenario:
If the Euro finds support in the current zone and manages to stabilize above the resistance at 1.04681, it could then move upward toward levels around 1.04928 and higher.