The EURUSD price tests the resistance – Forecast today - 24-04-2024
Economies.com
2024-04-24 03:54AM UTC
EURUSD Price Analysis
EURUSD Scenario:
- The EURUSD price keeps rising to test the key resistance 1.0715$ now, which represents the neckline of the double top pattern that its signs appear on the chart, accompanied by stochastic loss for more positive momentum and witnessing clear overbought signals, which forms negative motive that we are waiting to push the price to decline again.
- Therefore, the bearish trend scenario will remain active for the upcoming period, which its targets begin by testing 1.0615$ level, noting that breaching 1.0715$ will stop the expected decline and lead the price to attempt to regain the main bullish trend again, to head towards visiting 1.0795$ initially.
Trading Range:
- The expected trading range for today is between 1.0620$ support and 1.0770$ resistance.
Trend forecast: Bearish
Forex and Currency News
Forex
Dollar plumbs three-week low ahead of US payrolls report
2024-05-03 11:57AM UTC
Dollar fell in European trade on Friday against a basket of major rivals, extending losses for the ...
Forex
Yen hits three-week high as Japanese authorities intervene
2024-05-03 04:57AM UTC
Yen rose in Asian trade on Friday against major rivals, extending gains for the third straight ...
Forex
Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex Technical Analysis
Forex
The USDCHF price hits the target – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
USDCHF Price Analysis Expected Scenarios The USDCHF price managed to achieve our waited ...
Forex
The NZDUSD price completes the positive pattern – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
NZDUSD Price Analysis Expected Scenarios The NZDUSD price settles above 0.6000$ level, which ...
Forex
The AUDUSD price hits the second target – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
AUDUSD Price Analysis Expected Scenarios The AUDUSD price found solid resistance at 0.6640$, ...