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EURUSD Analysis: Consolidation on Weekly Chart, Potential Bullish Movement on 4-Hour Chart

The previous month EURUSD was trading within a range. we have said in my previous analysis that the price will retest the 1.1130 before further bullish was fulfilled. As per the EURUSD daily chart, it is in a bullish move but traded in a range. In this condition, the price can break either side of the range. According to the Weekly chart, Price has broken the support at 1.1220 and then retests it. As the price is in a small range on the daily chart, we have to observe the price on the upper and lower boundaries of the range. But in the weekly chart, it has broken the support. So, it is expected the price will resume bearish movement and the target will be the lower boundary of the range 1.1120 if it can break the level then the next target will be 1.1045.

 

eurusd weekly forecast

 

 
 
 
eurusd daily technical outlook

EURUSD Daily Technical Overview

EURUSD Weekly Trading Chart

There are some fundamental issues on both currencies including US Nonfarm payroll that will also indicate further direction of the pair.