The EURUSD under the negative pressure – Analysis - 02-04-2020
The EURUSD pair ended yesterday below 1.0966 level, confirming the completion of the head and shoulders’ pattern that appears on the chart, as it retested the broken neckline and keeps its stability below it, to keep the negative effect of this pattern active, waiting to head towards 1.0840 as a first negative target.
Therefore, we will continue suggest the bearish trend for the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 1.0700 followed by 1.0640 as next main stations, while the expected decline will remain active unless the price managed to breach 1.0966 and hold above it.
The expected trading range for today is between 1.0800 support and 1.1000 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Sterling sharpens decline to five-month nadir after weak data
Sterling tumbled in European trade against a basket of major rivals, sharpening losses for the ...
Forex
Euro approaches week high amid positive outlook
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Dollar gives up five-month high on profit-taking
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 19-04-2024
GBPUSD Price Analysis Expected Scenario The GBPUSD price trades with clear positivity to ...
Forex
The EURUSD price forecast update - 19-04-2024
EURUSD Price Analysis Expected Scenario The EURUSD price finds solid support at the ...
Forex
The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
NZDCAD Pair Analysis Expected Scenario The NZDCAD pair has confirmed its submission to ...