How does EURUSD fluctuate in the new week?

Brian greetings to you all!

Today, the EUR/USD is consolidating its decline near 1.0550, after retreating from its highest level in a week at the start of the Asian session on Monday. This currency pair has weakened due to the resurgence of demand for the US dollar as a safe haven following the military attacks between Palestine and Israel over the weekend.

On the chart, we can observe that a gap has appeared on the 1-hour timeframe, with a price range fluctuating between 1.0559 and 1.0581. It is likely that today, the EU will continue its downward trend towards the support level of 1.500, and then bounce back to fill the price gap as previously mentioned. Additionally, the potential resistance level of 1.0600 remains the focal point for the upcoming price increase.

Comment:

good luck

Trade active

Comment:

Support levels: 1.0510 1.0480 1.0435

Resistance levels: 1.0550 1.0590 1.0630

Trade closed: target reached

Comment:

Trade closed: stop reached