Euro Analysis (Daily Time Frame)
The Euro is currently trading just above the 1.05 level, and any attempt to sustain a strong upward move and reverse the current trend faces significant obstacles. On the other hand, signs of fatigue in the recent trend of the US Dollar are emerging. Last week, the Euro managed to recover 1.53% of its recent losses but remains in a downward trend.
Main Scenario:
If the price can break the 1.0609 area, buying positions can be taken with targets at 1.07730 and 1.0869.
Alternative Scenario:
If the 1.0609 area holds, selling positions can be considered with targets at 1.0773, 1.01204, and 0.96335.
Euro Analysis (4-Hour Time Frame)
Main Scenario:
Consider selling positions during corrections in the 1.05928–1.06108 range, targeting 1.0402 and 1.0331.
Alternative Scenario:
If the 1.05973 level breaks, during price corrections to the 1.04646 range, buying positions can be taken with a target of 1.0781.
Euro Analysis (15-Minute Time Frame)
We expect an upward move towards the 1.05973 area. However, if the price breaks the 1.5722 level, a further decline towards 1.0549 and 1.0527 is likely.