The question now is whether the current stabilization really has the strength to develop into the 1.0800 area.
At the moment, we have become somewhat more cautious here. The recovery is not yet showing the necessary momentum. Therefore, we see acute downside risks here to fall below 1.0350. However, if the EMA 20 can be recaptured on a daily and weekly closing price basis (currently at 1.0468), targets in the 1.0800 range will come into focus again.
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Analysis of 10/12/2024
EURUSD – the end of the slide?
The EURUSD currency pair has fallen significantly in recent weeks. The euro has lost value against the US dollar, peaking at 7.5% at the beginning of October. However, the euro has stabilized in recent weeks. What happens next?
The EURUSD has bounced back from the important support zone at 1.0350 – 1.0400. Our main scenario envisages a re-test of this support zone in the coming days or weeks and then an increase towards 1.0800 over the next few months.
However, if the currency pair falls below 1.0350 for a sustained period, the focus will immediately turn to parity.
It is difficult to identify any truly bullish alternative scenarios for the euro at present. A rise above 1.0850 would result in a follow-on potential up to 1.1300.
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