The EURUSD price attempts negatively – Forecast today - 12-04-2024

EURUSD Pair Analysis

Expected Scenario

The EURUSD pair tested the 1.0700$ barrier in the previous sessions and found solid support there, leading to temporary sideways trades. It's worth noting that the stochastic indicator is beginning to lose positive momentum, indicating a potential motivation for the price to continue its decline towards our expected target at 1.0645$.

Therefore, we continue to suggest a bearish trend for the upcoming period, supported by the EMA50. It's important to hold below 1.0765$ to maintain the expected negative scenario.

The expected trading range for today is between 1.0630$ support and 1.0790$ resistance.

Trend Forecast

Bearish