Technical Analysis and Outlook:
During this week's session, the Eurodollar decreased and reached our Mean Support level at 1.100 and lower, which suggests that it may continue to decline toward the Outer Currency Dip of 1.087. It could also rise and retest the Mean Resistance level at 1.109 to eliminate weak long positions. It's essential to consider this upward movement known as a "dead cat bounce."
During this week's session, the Eurodollar decreased and reached our Mean Support level at 1.100 and lower, which suggests that it may continue to decline toward the Outer Currency Dip of 1.087. It could also rise and retest the Mean Resistance level at 1.109 to eliminate weak long positions. It's essential to consider this upward movement known as a "dead cat bounce."
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Correction: This statement should read:It could also rise and retest the Mean Resistance level at 1.109 to eliminate weak SHORT positions. (NOT LONG)
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.