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Eurusud Technology
EURUSD broke out under a major ground area yesterday near 1.1256-1.1265, and it is now re-testing this level from the underside (see the circles with a red number). This region is also where there are 61.8 % of the range since 2020 above (at 1.1271) and July 2023 in 1.12754).
Recently, this region has worked as a support floor, a critical focal point. Stay below will lead to controlling sellers in the short term and verifying the validity of the negative break.
Earlier today, the husband found support in the swing area that tracks to 2024 (does not appear on the graph) between 1.12007 and 1.1213, and the highest bounce is currently testing broken support that has turned into resistance. If the sellers can defend this resistance ceiling area and push back through 1.1200, the next main goal is shown at the recovery level by 50 % near 1.1145.
Main levels:
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Resistance (broken support): 1.1265-1.1275
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The next negative side’s goal: 1.1200 to 1.1213 (oscopy from 2024)
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The short term control: Bears remain responsible less than 1.1265-75.
The move back above the previous floor would weaken the declining bias and open the door for another apostasy.
Later this year,
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