The wide-ranging, high-volume bar of June 29 invalidated the uptrend of June 27, paving the way for sellers to ride the emerging trend. As it is, every high below $1.0900 may allow traders to unload the euro while targeting $1.0800 in the short term. This target flashes with the lows of June 15, the conspicuous bar that anchors the current uptrend. Should sellers press on, reversing losses, euro could crash to $1.0650, or June lows, in a trend confirming sellers of May.

Trading volumes are within range, and the current price action is within a bearish formation. With the losses of June 23 conspicuous and bulls failing to convincingly close above $1.1000, the uptrend momentum is weak. 

Despite doubts about bulls, buyers have a chance above $1.0900. If not, any firm drop below $1.0900 by the end of the day would easily see the euro dump to $1.0800, an opportunity for aggressive traders to ride the trend, aligning with the bear bar of June 23. 

On the flip side, sharp gains above $1.1000 will offer entries for buyers angling for $1.1100 in a buy trend continuation formation, confirming bulls of the March to April range.

Losses of June 23 were reversed as buyers flowed back, pumping prices. With prices higher, bulls are back in the picture even though prices are choppy and volatile. Aggressive traders may look for entries above $1.0900 and June 23 close. However, better entries may be above $1.1000 or last week’s highs. A high-volume close with the same rapidity as the June 23 bar could easily lift euro toward $1.1100 and April 2023 high in a buy trend continuation formation. Conversely, sharp losses below last week’s lows at $1.0840 cancel this bullish preview.

Bears of last week could flow back, pressing the euro even lower. For this to be valid, there must be a close below $1.0880 by today’s close, aligning the emerging trend with the development of the June 23 bar. This, in turn, could allow risk-off traders to align with sellers of the end of last week, targeting $1.0800. Conversely, any breakout above $1.0950, or June 23 highs, with rising volumes would cancel this preview, allowing bulls to take charge.

The path of least resistance, at least in the short term, is southwards. As such, traders can look to ride the emerging trend, aligning with the sellers of June 23. Even so, trading volumes are lower, meaning the June 15 high-volume bull bar anchors the current formation. The immediate target for aggressive traders will be $1.0800, while the resistance is $1.0900. Any drop below $1.0800, reversing gains of June 15, invalidates this preview, ushering in sellers of May who may angle for $1.0500 in a bear trend continuation formation.

After sharp gains in the first half of June, the euro is bullish. For now, support is at $1.0900, while resistance is at June 22 high. As long as prices are within the bull bar of June 21, every low may offer entries for risk-off traders from an effort-versus-result perspective. This preview stands considering that bulls are dominant and bears didn’t rewind gains on June 21. As such, the immediate target remains at $1.1100 in the medium term. Any loss below $1.0900 may slow down optimistic euro bulls.

The recovery in June has been spectacular, cementing the bulls’ position. Currently, the euro is up 3.25% from May lows, aligning with buyers from March to April. Per the candlestick arrangement in the daily chart, traders can look to load on dips, syncing with gains of June 15 and expecting buyers to recover losses of May. Since the trend from the top-down preview is bullish, this preview will be valid if euro prices trend above $1.0900.

Currently, traders are upbeat, and the candlestick arrangement favors bulls. Provided prices are inside the June 15 bar; euro buyers have the upper hand from an effort-versus-result perspective. Subsequently, traders can look to load the dips above $1.0850 or, more conservatively, above $1.0970, targeting $1.1100 and aligning with last week’s buyers. This preview will be nullified if euro prices dump below $1.0800, reversing gains of the anchor bar of June 15.

The uptrend remains, and euro buyers are in control, anchored by last week’s gains. The cool-off of June 15 and 19 will likely continue. Notice that prices on June 20 were above the upper BB in the daily chart. This formation suggests that the uptrend is oversold and the currency, at spot rates, is above equilibrium. Subsequently, the euro might track lower, likely towards the $1.0850 zone, for a balance to be struck. Any sharp close above $1.0970 nullifies this preview. However, aggressive traders may look to short on lower time frames targeting $1.0850. Losses below $1.0800 nullify this bullish outlook.

Presently, the path of least resistance is northwards, and the currency is recovering after losses from May. The June 15 bar anchors the current price action. As long as prices are within the bar’s range, every low above $1.0800 may offer entries for traders to double down, targeting last week’s highs and later $1.11000. This preview holds from a top-down preview and favors swing traders from an effort-versus-volumes perspective. Any dump below $1.0800 will likely swing price action to favor sellers, canceling the current preview.