The EURUSD price forecast update - 25-03-2024

The EURUSD price keeps its stability below 1.0860$ level, to keep the negative effect of the double top pattern active and keep the bearish trend scenario valid for today, which targets 1.0765$ followed by 1.0690$ levels as next main stations.

Positive signals, expected decline

• Stochastic positivity might cause some temporary sideways fluctuation before resuming the expected decline.

• The EMA50 continues to press negatively on the price to support the continuation of the bearish trend.

The expected scenarios

• The overall expected trend is bearish, and breaking 1.0800$ will reinforce these expectations.

• Breaching 1.0860$ will stop the bearish trend and lead the price to turn to rise.

Expected trading range and price overview

The expected trading range for today is between 1.0720$ support and 1.0870$ resistance.

Trend forecast: bearish