EUR/USD Analysis – 07.Aug.2024
EUR/USD Analysis: By examining the EUR/USD chart in the 4-hour timeframe, we observe that after an initial reaction to the desired level, the price rose again and penetrated above 1.10 in a powerful move to gather liquidity. Following this, it underwent a correction and is currently trading around the 1.092 level. We need to wait for strong signs of either a rise or a fall before making our next move. At present, the price is being supported at the current range, and for further decline, we should wait for a break below 1.0830.
(this post on tradingview)
Author : Arman Shaban
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