EURUSD draws negative formation – Analysis - 13-06-2018

Economies.com
2018-06-13 00:47AM UTC

The EURUSD pair ended yesterday’s trading below 1.1785 level, and by taking a deeper look at the chart, we find that the price draws a descending triangle pattern that might push the price to turn to decline, especially that stochastic provides negative signal now, while the EMA50 attempts to protect the price from suffering more losses.

 

Therefore, we prefer staying aside temporarily until we get clearer signal for the next trend, waiting to breach 1.1800 resistance or breaking 1.1735 support, noting that breaching the mentioned resistance will push the price to resume the main bullish trend that targets 1.1929 level as a next station, while breaking the support will push the price to decline and visit 1.1553 level initially.

 

Expected trading range for today is between 1.1650 support and 1.1850 resistance.

 

Expected trend for today: Depends on the above mentioned levels

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...