Expected Scenarios for the Euro Index in the Short and Medium Term

The Euro Index is still moving in a general upward trend on the daily timeframe.

Currently, the index has reached important supply areas on the same timeframe,

which has caused the index to stop completing the uptrend

and begin a sideways movement, as we can see on the chart.

Currently, there are more than one expected scenario.

The first scenario: A continuation of the uptrend, which is likely

due to the weakness of the current supply area. We may see continued

uptrends, reaching the next resistance areas, which are considered very important areas.

These are the next target if the index continues to rise.

The target is located at the 2.4357 level.

The second scenario: A decline in the index in the short term,

and a re-visit and test of the uptrend shown on the chart.

From there, we may see a rebound and a further rise for the index.

The success of this scenario depends on the failure to break through the current supply zones.

In addition to a decline and a close below the supply zones.

In any case, we are currently waiting to see the direction of the index.

Therefore, we expect the currency movement to be weak or strong for the euro.