The EURUSD price under the negative pressure – Forecast today - 30-04-2024
Economies.com
2024-04-30 04:05AM UTC
EURUSD Price Analysis
The EURUSD price faces negative pressure to break the 1.0715$ level and attempts to hold below it. The recent trades are confined within a minor bullish channel that we believe forms a bearish flag pattern. Breaking 1.0695$ will activate the negative effect of this pattern and push the price to resume the main bearish trend, opening the way to achieve negative targets, starting with testing the 1.0615$ level.
Therefore, a bearish bias will be suggested for today. Consolidating above 1.0695$ and breaching 1.0715$ will stop the expected decline and lead the price to rise again, heading towards visiting 1.0795$ mainly.
Expected Trading Range
- Support: 1.0620$
- Resistance: 1.0770$
Trend Forecast
Bearish
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