Euro Analysis (Daily Time Frame)
The euro has fallen to its lowest level in two years, dropping by another 1.8% last week. The euro followed the previous analysis and touched the 1.03343 level. Furthermore, its upward trend has been broken down.
- Main Scenario: Continued price drop to the 1.01204 zone, and if the 1.01204 level breaks, the next sell targets are 0.96391.
- Alternative Scenario: If the 1.03319 support level holds, expect a price increase towards 1.06187 and 1.07643.
Euro Analysis (4-Hour Time Frame)
- Main Scenario: If the 1.04016 level holds, expect a price increase towards 1.0555. Sell positions can be taken from price corrections in the 1.05691-1.05928 range.
- Alternative Scenario: If the 1.03319 level holds, buy positions can be taken from price corrections in the 1.04020-1.03319 range to reach targets at 1.06125 and 1.08249.
Euro Analysis (15-Minute Time Frame)
The price is within a downward channel. After encountering the demand zone and the channel’s lower boundary, the price has increased, forming a trading range. Buy positions can be taken from price corrections above the 1.03854 level to reach targets at 1.04981 and 1.05569.