Euro-Dollar Stagnates Before Next Target

After reaching the key resistance level of 1.19000, the Euro-Dollar dipped in price on Monday. With a potential short-term correction in the works, the pair appears to be gaining bullish momentum. However, it needs the right push.

  • Should the price fall back to the key support level of 1.18000, it is of little surprise. However, should the price fall further below the key level, a continued downtrend may ensue.
  • Should the price fail to close below the key support level, a target of 1.19668 may be seen after breaking past the key resistance level of 1.19000.