financetom
Euro-Dollar
financetom
/
Forex
/
Euro-Dollar
/
The EURUSD price completes negative pattern – Forecast today - 30-05-2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The EURUSD price completes negative pattern – Forecast today - 30-05-2024
May 29, 2024 9:39 PM

EURUSD Price Analysis Expected Scenario The EURUSD price faced clear negative pressure yesterday to break the bullish channels support line and settle below it, and by taking a deeper look at the chart, we find that the price completed forming a double top pattern that supports the chances of continuing the decline and achieve bearish correction for the rise that started from $1.0600 areas, paving the way to achieve negative targets that start by breaking $1.0780 to head towards $1.0713 followed by $1.0670 levels. Therefore, the bearish bias will be suggested in the upcoming sessions, noting that breaching $1.0840 will stop the negative scenario and lead the price to regain the bullish track again. Expected Trading Range Between $1.0710 support and $1.0850 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 under pressure ahead of Christine Lagarde's speech
Euro under pressure ahead of Christine Lagarde's speech
Jun 29, 2026
The euro fell in European trading on Monday against a basket of global currencies, resuming losses after a two-day recovery against the US dollar and moving closer once again to its lowest levels in 13 months, as renewed geopolitical tensions in the Middle East followed military exchanges between the United States and Iran. European Central Bank President Christine Lagarde is...
Forecast update for EURUSD -29-06-2026.
Forecast update for EURUSD -29-06-2026.
Jun 29, 2026
The EURUSD pair settles with gains in its last intraday trading, with the beginning of positive overlapping signals appearing on the relative strength indicators, providing bullish momentum that helps the price to settle against the negative pressures that are represented by its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on the short-term basis. ...
Forecast update for EURUSD -26-06-2026.
Forecast update for EURUSD -26-06-2026.
Jun 26, 2026
The EURUSD pair surged higher during its latest intraday trading, supported by the emergence of the positive signals from the relative strength indicators, despite reaching overbought levels, which threatens these gains to rebound at any moment, especially with the continuation of the negative pressure that comes from its trading below EMA50, which reduces the chances of sustainable recovery in the...
Euro extends recovery on bargain buying
Euro extends recovery on bargain buying
Jun 26, 2026
The euro rose in European trading on Friday against a basket of global currencies, extending its recovery for a second consecutive session from a 13-month low against the US dollar, supported by bargain buying and a softer US currency following mixed comments from Federal Reserve officials. Latest economic estimates suggest that lower oil prices are helping ease inflationary pressures on...
Copyright 2023-2026 - www.financetom.com All Rights Reserved