financetom
Euro-Dollar
financetom
/
Forex
/
Euro-Dollar
/
The EURUSD price begins negatively – Forecast today - 31-05-2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The EURUSD price begins negatively – Forecast today - 31-05-2024
May 30, 2024 9:40 PM

EURUSD Price Analysis Expected Scenario The EURUSD price retested the previously broken support line of the bullish channel and bounced bearishly from there, noticing that the price begins to provide clear negative trades now to move below 23.6% Fibonacci correction level, which supports the expectations of continuing the domination of the bearish correction in the upcoming sessions, which targets 1.0780$ followed by 1.0713$ levels as next main stations. Stochastic overlaps negatively to motive the price to provide more bearish bias in the upcoming sessions, noting that breaching 1.0850$ will stop the suggested decline and push the price back to the bullish track again. Expected Trading Range Between 1.0730$ support and 1.0870$ resistance.

Trend Forecast: Bearish

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Euro Exchange Rate Forecast to Hit Parity v US Dollar
Euro Exchange Rate Forecast to Hit Parity v US Dollar
Mar 22, 2024
The euro dollar exchange rate (EURUSD) has been pushed sharply lower amidst a tsunami of dollar buying.The euro has had a tough week and hit new lows on the back of further details concerning the European Central Bank (ECB) quantitative easing programme. This helped to buoy sterling and boost a...
DAX Surge Keeps EUR Outlook Weak as Hedging Demand Grows
DAX Surge Keeps EUR Outlook Weak as Hedging Demand Grows
Mar 22, 2024
With Eurozone stock markets powering higher we hear the outlook for the euro exchange rate complex (EUR) will continue to be undermined as investor demand for currency hedges remains elevated.“As the euro weakens further and oil prices stay subdued the case for a robust euro recovery grows stronger by the...
Japanization will See a Trillion Euros Leave the Eurozone say Deutsche Bank
Japanization will See a Trillion Euros Leave the Eurozone say Deutsche Bank
Mar 22, 2024
The outlook for the euro exchange rate complex (EUR) remains overwhelmingly negative says a new note issued by a leading Deutsche Bank analyst which forsees investor money draining out of the single-currency market.With the euro being battered across the board we continue to ask the question - just how low...
Euro Relief Short-Lived as Secular Dollar Bull-Trend has Further to Run
Euro Relief Short-Lived as Secular Dollar Bull-Trend has Further to Run
Mar 22, 2024
The euro to dollar exchange rate (EUR/USD) has powered higher bringing to end the relentless selling pressure.USD bull trend to extend in line with its longer-term secular trends - roughly eight years up and eight years down on average since the 1970s“Corrective EUR gains in the next few weeks (to...
Copyright 2023-2024 - www.financetom.com All Rights Reserved