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The EURUSD price tests the channel’s support line – Forecast today - 05-06-2024
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The EURUSD price tests the channel’s support line – Forecast today - 05-06-2024
Jun 4, 2024 9:42 PM

EURUSD Price Analysis Expected Scenario The EURUSD price tested the bullish channels support line and attempted to break it yesterday, but it closed the daily candlestick above it, to keep the bullish trend scenario valid and active for the upcoming period, waiting to resume the bullish wave that its next target located at 1.1015$. Stochastic overlaps positively now to motivate the price to provide positive trades in the upcoming sessions, noting that breaking 1.0865$ will stop the expected rise and push the price to start bearish correction on the intraday basis. Expected Trading Range Between 1.0830$ support and 1.0970$ resistance.

Trend Forecast: Bullish

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