Analysis EUR/USD Trends: Potential Reversal and Upward Recovery
In the European trading session on Monday, the EUR/USD pair recorded stable and modestly higher trading, maintaining above the 1.0650 USD.
On the 4-hour chart, the RSI indicator is trading below the 30, indicating an oversold market and a strong downward trend. However, this is also a sign of a potential correction and upward recovery in the near future.
On the other hand, testing the SMA 20 area and potentially breaking through this level could set the stage for a strong upward trend, moving towards resistance zones around the 1.0790 USD area at the SMA 50 and SMA 100. Additionally, investors need to monitor news and market developments to have a flexible and effective investment strategy.
On the 4-hour chart, the RSI indicator is trading below the 30, indicating an oversold market and a strong downward trend. However, this is also a sign of a potential correction and upward recovery in the near future.
On the other hand, testing the SMA 20 area and potentially breaking through this level could set the stage for a strong upward trend, moving towards resistance zones around the 1.0790 USD area at the SMA 50 and SMA 100. Additionally, investors need to monitor news and market developments to have a flexible and effective investment strategy.
