Thursday, January 4, 2024 7:37 AM EDT
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The EURUSD currency pair has made a significant breakthrough, surpassing the resistance level at 1.0965. This breakout suggests that the previous downward movement from 1.1139 has concluded at 1.0893.
The recent price action indicates a potential upward trend in the coming days, with the next target set at 1.1000, followed by 1.1090. This bullish sentiment suggests that the Euro may continue to strengthen against the US Dollar in the near term.
In terms of support levels, we have identified 1.0910 and 1.0893. These levels are crucial as a breakdown below them could potentially trigger a further downward move towards the 1.0840 area. Traders should closely monitor these support levels for any signs of weakness in the Euro.
Overall, the recent price action in the EURUSD pair has shown a break above a key resistance level, indicating a potential shift in momentum towards the upside. Traders should be aware of the next targets at 1.1000 and 1.1090, while keeping a watchful eye on the support levels at 1.0910 and 1.0893. As always, it is important to stay updated with market developments and adjust trading strategies accordingly.
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