The EURUSD reaches the target – Analysis - 07-04-2021

Economies.com
2021-04-07 03:17AM UTC

The EURUSD pair managed to reach the thresholds of the waited target at 1.1885 and settles near it, noticing that the price lost its positive momentum, which might press on trades to rebound bearishly again, while the EMA50 attempts to support the price from below.

 

Therefore, the contradiction between the technical factors makes us prefer stay neutral until we get clearer signal for the next trend, noting that breaching the mentioned level will push the price to achieve additional gains that reach 1.1975 as a next target, while consolidating below it will force the price to decline again to test 1.1780 as a first negative station.

 

The expected trading range for today is between 1.1780 support and 1.1950 resistance.

 

The expected trend for today: Neutral

Forex and Currency News

EUR/USD news

Forex

Euro declines to five-week trough amid thin trading
2024-03-29 08:19AM UTC
Euro Decline Amid Holiday Thin Trading Euro declined in European trade on Friday against a basket ...
Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...

Forex Technical Analysis

USD CHF Analysis

Forex

The USDCHF price faces temporary negative pressure – Forecast today - 29-03-2024
2024-03-29 01:48AM UTC
USDCHF Price Analysis Expected Scenario: Bullish Trend The USDCHF pair rebounded bearishly ...
NZD USD Analysis

Forex

The NZDUSD price keeps its negative stability – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
NZDUSD Price Analysis Expected Scenario: Bearish Trend The NZDUSD price remains below the ...
AUD USD Analysis

Forex

The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
AUDUSD Price Analysis Expected Scenario: Bearish Momentum The AUDUSD price failed to sustain ...