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EURUSD Analysis: Towards Bearish Trend Amidst Stability Below Key Support

by Daisy

The EURUSD price is maintaining its stability below the breached support of the bullish channel, signaling the continuation of a correctional bearish trend. The scenario anticipates a breakthrough of the $1.0825 level to confirm the realization of negative targets, commencing at $1.0785 followed by $1.0713.

Stochastic indicators are reinforcing the anticipated decline with negative signals. This bearish outlook holds unless a price rally breaches $1.0895 and sustains above it.

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In terms of expected trading range, the analysis suggests a fluctuation between the support level of $1.0770 and the resistance level of $1.0910.

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Forecast: The trend forecast remains bearish, reflecting the prevailing market sentiment.

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