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The EURUSD price achieves some bullish correction – Forecast today - 08-11-2024
The EURUSD price’s rise stopped after touching 23.6% Fibonacci correction level for the decline measured from 1.1208$ to 1.0682$, to start providing negative trades by today’s open, which hints heading to resume the bearish wave in the upcoming sessions, as the EMA50 formed good resistance barrier against the price, while stochastic overlaps negatively now.
Therefore, these factors encourage us to suggest the bearish trend for today, and the targets begin at 1.0680$ and extend to 1.0600$, noting that breaching 1.0806$ will lead the price to achieve additional bullish correction that its next target reaches 1.0883$.
The expected trading range for today is between 1.0695$ support and 1.0850$ resistance
Trend forecast: Bearish
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End of day gold price forecast update - 07-11-2024
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MoreEnd of day EURUSD price forecast update - 07-11-2024
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