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The EURUSD price surpasses the first target – Forecast today - 11-04-2024
EURUSD Price Analysis
Expected Scenario
- The EURUSD price confirmed breaking the 1.0765$ level after closing the daily candlestick below it, indicating a continuation of the bearish trend on the intraday and short-term basis.
- Moving below the EMA50 supports the suggested negative scenario, with possible temporary sideways fluctuation influenced by stochastic positivity before resuming the expected decline.
Expected Outcome
Breaching 1.0765$ will halt the bearish wave and initiate price recovery attempts, targeting the testing of 1.0860$ areas initially.
Expected Trading Range
Between 1.0655$ support and 1.0810$ resistance.
Trend Forecast: Bearish
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Update: The GBPUSD breaks the support
The GBPUSD pair bounced downwards strongly after finding solid resistance at 1.2700$, to break 1.2580$ and hint heading to achieve new bearish correction in the upcoming period, opening the way to target 1.2480$ areas as a next main station.
MoreUpdate: The EURUSD hits the target
The EURUSD pair declined strongly to succeed achieving our waited target at 1.0765$, noticing that the price presses on this level to confirm breaking it and attempts to hold below it, reinforcing the expectations of extend the bearish wave in the upcoming period, reminding you that our next target reaches 1.0645$, while holding below 1.0765$ represents initial condition to the continuation of the expected decline.
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