• July 9, 2024
  • Trade ideas

EURUSD: Critical Point



EURUSD faces the crucial resistance level at 1.0820, aligned with the 38.2 Fibonacci ratio. The Momentum oscillator crosses the 100 level from below, potentially indicating a bullish sentiment

  • If the price surpasses the 1.0820 resistance, It may propel the asset to 1.0950;
  • However, if the EURUSD rebounds off the 38.2 Fibonacci, the price will fall to the 1.0680 level.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul