Euro Analysis (Daily Time Frame)
In the past week, the euro was rejected from the 1.06300 area and reached the 1.04567 area with weak momentum. It seems that the euro is fluctuating in a range and will soon exit this area. Given the trend slope and the breaking of its dynamic and static support, the probability of the price exiting from the bottom of this range is higher.
- Main Scenario: If it exits from the bottom of the range, i.e., the 1.04567 area, the first target will be 1.03327 and then 1.02240.
- Alternative Scenario: If it reverses from this area and exits from the top of 1.06300, the price can reach 1.07615, and if it stabilizes above this area, it can also see the 1.09358 area.
Euro Analysis (4-Hour Time Frame)
As mentioned in the daily time frame, the euro is in a range where the price is in a time correction, and it remains to be seen from which side this range will break.
- Main Scenario: Given the previous downward leg, the probability of exiting from the bottom of this range is higher. If 1.04567 is broken, the price can experience the 1.03327 area again and even move to lower areas.
- Alternative Scenario: If the price moves up from this area and breaks the top of 1.06300, it can go to the 1.08239 area and even higher.
Euro Analysis (15-Minute Time Frame)
It seems that the price has broken the downward trendline and is completing a pullback, in which case:
- Main Scenario: If this pullback is completed and the top of 1.05241 is broken, the price can easily move to 1.05672 and even 1.06300.
- Alternative Scenario: If the pullback is not completed and the bottom of 1.04831 is broken, the price can move to the 1.04567 area, and if that area is also broken, it can move to lower levels.