Euro Analysis (Daily Time Frame)
As mentioned in last week’s main scenario, the divergence at the bottom suggested a possible bullish move for the euro. This scenario partially played out last week, with the euro rising to 1.05144, forming a strong weekly candlestick.
- Main Scenario (Higher Probability):
If the euro breaks above the 1.05338 resistance and stabilizes, it could easily extend its rally toward 1.06310 and 1.07616. - Alternative Scenario (Lower Probability):
If the euro fails to break this resistance and faces rejection, it could decline toward the 1.02850 support level.
Euro Analysis (4-Hour Time Frame)
- Main Scenario:
Since the euro has already broken past its previous resistance at 1.04436, it is expected to continue upward, potentially breaking 1.05338 and targeting 1.06310. - Alternative Scenario:
If the euro gets rejected and closes below 1.04436, it could decline further to 1.03737 and potentially 1.02850.
Euro Analysis (15-Minute Time Frame)
- Main Scenario:
If the euro finds support at its current level and moves upward, its first resistance will be 1.05088. If this level is broken and stabilized above, the next target will be 1.05338. - Alternative Scenario:
If the euro fails to hold this level and breaks below 1.04859, the downward move could extend to 1.04665.