The EURUSD price approaches the target – Forecast today - 29-03-2024

Economies.com
2024-03-29 01:41AM UTC

EURUSD Price Analysis

Expected Scenario: Bearish Trend

  • The EURUSD price continues its calm decline, approaching the $1.0765 level.
  • This maintains the bearish trend active for the upcoming period.
  • Breaking the $1.0765 level will extend the bearish wave towards $1.0645 as the next target.
  • The bearish wave is based on the completion of the double top pattern observed on the chart.
  • This pattern remains valid unless the price breaches $1.0860 and holds above it.
  • Weak trading activity may be witnessed today due to European markets' holidays.

Expected Trading Range for Today

  • Support: $1.0700
  • Resistance: $1.0850

Trend Forecast: Bearish

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