The EURUSD achieves some bearish correction – Analysis - 05-10-2021
Economies.com
2021-10-05 04:11AM UTC
The EURUSD pair provided positive trades yesterday but it stopped at 23.6% Fibonacci correction level for the decline measured from 1.1909 to 1.1563, noticing that the price bounced bearishly from there, as the EMA50 meets this level to add more strength to it, while stochastic shows clear negative signals now.
Therefore, we believe that the chances valid to resume the main bearish trend, which its next target located at 1.1500, noting that breaching 1.1645 will lead the price to achieve more bullish correction that its targets extend to 1.1695 followed by 1.1775.
The expected trading range for today is between 1.1520 support and 1.1650 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Euro scales 16-year peak against yen
2024-04-25 07:51AM UTC
Euro rallied in Asian trade on Thursday against the yen, extending gains for the fifth straight ...
Forex
Euro parks at two-week high amid positive sentiment
2024-04-24 07:41AM UTC
Euro rose in European trade on Wednesday, widening gains for the fourth straight session and ...
Forex
Aussie gains ground despite mixed data
2024-04-23 20:58PM UTC
The Australian dollar rose against a basket of major rivals on Tuesday following mixed ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 25-04-2024
2024-04-25 09:42AM UTC
NZDUSD Price Analysis Expected Scenario The NZDUSD price shows new positive trades now, ...
Forex
The AUDUSD price forecast update 25-04-2024
2024-04-25 09:42AM UTC
AUDUSD Price Analysis Expected Scenario The AUDUSD price resumes its positive trading ...
Forex
The GBPUSD forecast update 25-04-2024
2024-04-25 09:42AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price rallies upwards strongly to ...