Euro Technical Forecast: EUR/USD Consolidates as EUR/JPY Declines
The Euro experienced a mixed week against major currencies, with the EUR/USD pair trading in a range while the EUR/JPY pair broke down. The EUR/USD pair struggled to break above the 1.1850 resistance level, leading to a consolidation phase. On the other hand, the EUR/JPY pair faced selling pressure and broke below key support levels.
Looking ahead, traders will be closely monitoring key levels for both pairs. If the EUR/USD pair manages to break above the 1.1850 resistance level, it could open the door for further upside potential. Alternatively, a break below the 1.1750 support level could signal a downside move.
For the EUR/JPY pair, a break below the 130.00 support level could lead to further declines, while a move above the 131.50 resistance level could indicate a potential reversal.
Overall, the Euro is facing mixed technical signals against major currencies, with the EUR/USD pair consolidating and the EUR/JPY pair breaking down. Traders should closely monitor key levels for potential trading opportunities in the coming sessions.