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The EURUSD price breaches the resistance – Forecast today - 04-06-2024

Economies.com
2024-06-04 04:19AM UTC

Price Analysis: EURUSD

Expected Scenario

  • The EURUSD price continued to rise to breach 1.0895$ level and close the daily candlestick above it, to stop the correctional bearish scenario and head towards resuming the main bullish trend within the bullish channel that appears on the chart, on its way to achieve additional gains that reach 1.1015$ as a next main station.
  • Therefore, we expect to witness more rise in the upcoming sessions, supported by the EMA50, noting that breaking 1.0865$ will stop the suggested bullish trend and push the price to achieve new bearish correction on the intraday basis.

Expected Trading Range

Between 1.0850$ support and 1.1000$ resistance.

Trend Forecast: Bullish

Update: Crude oil price suffers strong losses

Economies.com
2024-06-04 03:21AM UTC

Crude oil price declined strongly to surpass our suggested negative targets in our recent reports, and breaks 75.25$ level to confirm opening the way to suffer more losses in the upcoming period, expecting to target 73.15$ followed by 71.35$ areas as next negative stations, taking into consideration that failing to hold below 75.25$ might push the price to attempt to recover and build bullish wave on the intraday basis.

Update: Gold price tests the first resistance

Economies.com
2024-06-03 15:31PM UTC

Gold price trades positively to attempt to breach the first key resistance 2340.10$, and as we mentioned in our recent reports, the price needs to hold below this level and below 2360.0$ to keep the correctional bearish scenario active, as breaching these levels will lead the price to attempt to regain the main bullish trend again, which urges caution and monitoring the upcoming trades especially according to the mentioned levels.

Update: The EURUSD attacks the resistance

Economies.com
2024-06-03 15:31PM UTC

The EURUSD price rallies upwards strongly to approach the key resistance 1.0895$, which urges caution from the upcoming trading, as continuing the rise and breaching this level will confirm stopping the bearish correction and turn to rise again, to head towards achieving gains that start by visiting 1.0975$ areas.

Frequently asked questions

What is the price of EUR/USD today?

The price of EUR/USD is $1.1578 (2025-08-06 05:25AM UTC)