The EURUSD hits the target – Analysis - 13-12-2019
The EURUSD pair bounced upwards strongly by today’s opening to succeed touching our first waited target at 1.1180, settling there now, and by taking a deeper look at the chart, we find that the price draws double bottom pattern that its confirmation line located at the mentioned target, which means that breaching this level will form strong positive motive that supports the chances of extending the bullish wave on the short term and medium term basis.
Therefore, we suggest the continuation of the bullish trend in the upcoming period, noting that the next target is located at 1.1280, while the expected rise will remain valid unless breaking 1.1108 level and holding below it.
The expected trading range for today is between 1.1100 support and 1.1280 resistance.
The expected trend for today: Bullish
Forex and Currency News
Forex
Dollar regains footing ahead of important Fed remarks
Dollar rose in European trade on Tuesday against a basket of major rivals, holding ground above ...
Forex
Aussie is worst performing major currency after RBA's decision
The Australian dollar fell in European trade on Tuesday against a basket of major rivals, moving ...
Forex
Yen extends losses as intervention momentum from Japanese authorities fades
Yen lost ground in Asian trade against a basket of major rivals, heading for the second loss in a ...
Forex Technical Analysis
Forex
The EURJPY achieves some targets – Forecast today – 7-5-2024
Expected Scenarios and Trading Range Scenario 1: Bullish Attack EURJPY pair utilizes ...
Forex
The GBPJPY begins to rise – Forecast today – 7-5-2024
Expected Scenarios and Trading Range Scenario 1: Correctional Decline Ended GBPJPY pair ...
Forex
The USDCHF price attempts to recover – Forecast today - 07-05-2024
USDCHF Price Analysis The USDCHF price shows positive trades, indicating a potential resumption ...