EUR/USD Daily Chart Analysis For Week of Dec 29, 2023
Technical Analysis and Outlook:
The Eurodollar has experienced a notable price jump during this week's trading session, surpassing our Inner Currency Rally level of 1.109. The current price movement indicates that the Eurodollar will likely decline to the newly established Mean Support of 1.100 and potentially to the Mean Support of 1.094. On the other hand, the Eurodollar will inevitably rise to retest Mean Resistance 1.113.
The Eurodollar has experienced a notable price jump during this week's trading session, surpassing our Inner Currency Rally level of 1.109. The current price movement indicates that the Eurodollar will likely decline to the newly established Mean Support of 1.100 and potentially to the Mean Support of 1.094. On the other hand, the Eurodollar will inevitably rise to retest Mean Resistance 1.113.