EURUSD starts bullish correction – Analysis - 06-01-2017
Economies.com
2017-01-06 04:49AM UTC
The EURUSD pair breached 1.0519 level strongly yesterday and settled above it, which activates the bullish trend scenario on the intraday and short term basis, to start bullish correction for the decline measured from 1.1365 to 1.0339, noticing that the price surpasses 23.6% Fibonacci level to pave the way to target the next correctional level at 1.0731.
Therefore, the bullish trend will be suggested in the upcoming sessions supported by the EMA50, noting that the expected rise will remain valid unless breaking 1.0581 followed by 1.0519 levels and holding below them.
Expected trading range for today is between 1.0500 support and 1.0730 resistance.
Expected trend for today: Bullish
Forex and Currency News
Forex
Sterling sharpens decline to five-month nadir after weak data
2024-04-19 11:40AM UTC
Sterling tumbled in European trade against a basket of major rivals, sharpening losses for the ...
Forex
Euro approaches week high amid positive outlook
2024-04-18 08:30AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Dollar gives up five-month high on profit-taking
2024-04-17 10:56AM UTC
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...
Forex Technical Analysis
Forex
The EURUSD price forecast update - 19-04-2024
2024-04-19 10:43AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price finds solid support at the ...
Forex
The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
2024-04-19 08:21AM UTC
NZDCAD Pair Analysis Expected Scenario The NZDCAD pair has confirmed its submission to ...
Forex
The EURJPY faces the negative pressures – Forecast today – 19-4-2024
2024-04-19 08:16AM UTC
EURJPY Pair Analysis Expected Scenario Despite strong negative pressures this morning due ...