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EURUSD Price Gains Momentum: Forecast for 10-07-2024

by Daisy

The EURUSD pair has shown resilience as it halted its decline near the crucial $1.0800 barrier. Currently, a positive trading outlook is emerging, buoyed by a favorable signal from the stochastic indicator. Analysts anticipate this momentum to propel the price towards breaching the $1.0840 mark, potentially paving the way for further gains towards the next key target at $1.0915.

Supporting this upward trajectory is the EMA50 indicator, reinforcing the bullish sentiment. This outlook remains valid as long as the pair holds above the critical support level at $1.0760.

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For today’s trading session, market observers are eyeing a trading range between $1.0760 as support and $1.0900 as resistance.

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Trend Forecast: Bullish

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