FX.co ★ Technical Analysis of Weekly Price Movement of EUR/USD Main Currency Pairs, Monday February 12, 2024.

On the weekly chart, the main currency pair EUR/USD shows that EMA 10 is still above EMA 40 and the Stochastic Oscillator is at the Oversold level and is getting ready to Cross Up so based on these things EUR/USD will be in the next 1 to 2 weeks. will have the potential to strengthen up to level 1.1036 and will try to breaks upwards so that if this level is successfully broken then level 1.1179 will be the main target to be aimed at, but if the momentum and volatility are healthy enough then it is not impossible that Fiber will try to test the next level, namely at 1.1546, even so with the appearance The Rising Wedge pattern on the EUR/USD weekly chart also warns us to be careful because if on its way to the targets outlined previously EUR/USD suddenly weakens again, especially if it penetrates below level 1.0619, then the strengthening scenario outlined previously will become invalid and cancel itself.

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