The EURUSD price forecast update - 26-03-2024
Economies.com
2024-03-26 09:26AM UTC
EURUSD Price Analysis
- The EURUSD price shows positive trades to approach testing the key resistance 1.0860$, which urges caution from the upcoming trading, as the price needs to consolidate below this level to keep the bearish trend scenario valid for the upcoming period.
- The EMA50 meets the mentioned resistance to add more strength to it, accompanied by witnessing clear overbought signals through stochastic, which supports the chances of resuming the expected bearish trend on the intraday basis, which targets 1.0765$ as a next main station, noting that breaching 1.0860$ will stop the negative scenario and lead the price to turn to rise.
The expected trading range for today is between 1.0720$ support and 1.0870$ resistance.
Trend forecast: bearish
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