Euro continues to gradually climb towards targets 12/1/2023

Positive, calm trades dominated the movements of the EUR/USD pair within the expected bullish path and a gradual rise to the top, touching the first target to be achieved yesterday at 1.0780, recording its highest level at 1.0778.

Technically, we find the current movements of the pair trying to settle above the main resistance published during all the technical reports for the current week, at 1.0740, Fibonacci correction 61.80%, explaining that it represents the key to the continuation of the bullish trend, in addition to the bullish momentum signals.

Therefore, the possibility of resuming the rise is present and effective, continuing towards the second target, 1.0840, and then 1.0900, the next station, unless we witness any trading below 1.0700.

A decline below 1.0700 puts the pair under negative pressure as we await a retest of 1.0660, and breaking it would lead the pair to visit 1.0610.

Note: Today, markets are awaiting US inflation (consumer price index) data, which may lead to price volatility.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.0700	R1: 1.0785
S2: 1.0660	R2: 1.0840
S3: 1.0610	R3: 1.0900