Current
After yesterday’s close at around $1.0238, the currency pair is showing stronger again today (Tuesday). The share price moved slightly up 0.36% so far today. In the medium-term upward trend, the share price fell on Nov. 15. marked an interim high at around $1.0480. With today’s rise, the EUR/USD remained the slight correction over the last few trading days could form a bullflag. However, for that to happen, it would first have to reach $1.0400 again.
Outlook
Overall, the chart situation in the daily chart has not changed much in the current week. A short-term relevant horizontal support has been established in the area around $1.0240. The next important resistance is located in the area of $1.0375. If the price continues to stay above the support and respects it, this can be interpreted as a bullish signal and we could see a further rise. However, if the support is broken to the downside, we could see a downside move to the next support at $1.0185. Otherwise, there is a possibility of a sideways movement, where the price could continue to stay in the $1.0280 area.
