The EURUSD confirms the break – Analysis - 29-03-2019

Economies.com
2019-03-29 05:29AM UTC

The EURUSD pair succeeded to confirm breaking 1.1240 level after closing the daily candlestick below it, to rally towards achieving more decline in the upcoming period, reminding you that our next target is located at 1.1180, which represents 61.8% Fibonacci correction level for the entire rise measured from 1.0333 to 1.2553, which hints the importance and sensitivity of this level to determine the short term and medium term trend.

 

Note that breaking the targeted level will extend the bearish wave to target 1.1100 and goes further to 1.0857, while holding against the current negative pressure and bouncing bullishly to breach 1.1300 will stop the bearish wave and lead the price to start recovery attempts that target testing 1.1443 areas initially.

 

The expected trading range for today is between 1.1130 support and 1.1300 resistance.

 

The expected trend for today: Bearish

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

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 ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...