EUR/USD Daily Chart Analysis For Week of April 12, 2024
Technical Analysis and Outlook:
The Eurodollar has completed an Inner Currency Dip of 1.065. This momentum is expected to generate further selling pressure, resulting in a decline to the next Inner Currency Dip of 1.054. Ultimately, the Eurodollar is expected to reach an Inner Currency Dip of 1.045. It is worth emphasizing, however, that an interim rebound to the Mean Resistance level of 1.075 may be feasible before the Eurodollar resumes its downward trajectory.
The Eurodollar has completed an Inner Currency Dip of 1.065. This momentum is expected to generate further selling pressure, resulting in a decline to the next Inner Currency Dip of 1.054. Ultimately, the Eurodollar is expected to reach an Inner Currency Dip of 1.045. It is worth emphasizing, however, that an interim rebound to the Mean Resistance level of 1.075 may be feasible before the Eurodollar resumes its downward trajectory.
