Advertisements

EURUSD Price Analysis: Bearish Trend Expected to Continue

by Daisy

The EURUSD pair concluded trading yesterday below the critical level of 1.0720$, with downward pressure sustained by the EMA50 indicator. This setup signals a continuation of the bearish momentum towards anticipated downside targets, commencing at 1.0675$ and potentially extending to 1.0600$.

While the current Stochastic indicator shows some temporary bullish sentiment, it is expected to provide only a brief respite before the dominant bearish trend resumes. This outlook remains valid unless there is a significant rally above the resistance level at 1.0795$, accompanied by sustained price action above this threshold.

Advertisements

Expected Trading Range:

Market analysts project a trading range between the support level at 1.0640$ and the resistance level at 1.0790$.

Advertisements

Trend Forecast:

Overall sentiment leans strongly bearish, with expectations of further downward movement 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