Advertisements

EURUSD Faces Bearish Outlook Amid US Market Holiday Influence

by Daisy

The EURUSD pair navigated a narrow trading band yesterday, largely influenced by the absence of activity in US markets due to holidays. Currently, stochastic indicators show a bearish tilt, poised to potentially drive prices lower in the near future. Analysts anticipate the pair to continue its downward trajectory, eyeing key support levels at 1.0675$ and subsequently 1.0600$.

Supporting this bearish sentiment is the EMA50 indicator, which continues to reinforce expectations of decline, contingent on the pair maintaining stability below the 1.0795$ mark.

Advertisements

Looking ahead, the anticipated trading range remains bounded between support at 1.0660$ and resistance at 1.0800$.

Advertisements

Trend Forecast: Bearish

This projection underscores prevailing market sentiment, emphasizing expectations for a continued downtrend in the EURUSD pair.

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News