financetom
Euro-Dollar
financetom
/
Forex
/
Euro-Dollar
/
The EURUSD price faces contradicted factors – Forecast today -
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The EURUSD price faces contradicted factors – Forecast today -
Mar 26, 2024 12:19 AM

The EURUSD price ended yesterday at 1.0860$ level, and consolidated above the breached neckline of the inverted head and shoulders pattern, accompanied by stochastic reach to the oversold areas, these factors support the chances of resuming the expected bullish trend on the intraday basis.

On the other hand, we notice that the price is forming double top pattern that its signs appear on the chart, its confirmation line meets the neckline of the above mentioned pattern at 1.0845$, which means that breaking it will push the price to turn to decline and target 1.0765$ initially.

Therefore, the contradiction between the technical factors makes us prefer to stay aside until we get clearer signal for the next trend, which we will get through breaking 1.0845$ support or breaching 1.0885$ resistance.

The expected trading range for today is between 1.0780$ support and 1.0955$ resistance.

Trend forecast: Neutral

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 >
EURUSD reaches solid resistance -Analysis-04-09-2025
EURUSD reaches solid resistance -Analysis-04-09-2025
Sep 3, 2025
The (EURUSD) witnessed fluctuated moves in its last intraday trading, after its success in offloading the clear oversold conditions on the (RSI), retesting the resistance at 1,1660 level. Accompanied by the pairs reach to the resistance of EMA50, which has put negative pressure in the price that forced it to decline again, especially with the emergence of negative overlapping signals...
Evening update for EURUSD -03-09-2025
Evening update for EURUSD -03-09-2025
Sep 3, 2025
The (EURUSD) rose in its last intraday trading, supported by the emergence of the positive signals on the (RSI), after reaching oversold levels, surpassing the resistance of EMA50, in a significant step for getting rid of the negative pressure, to notice the (RSI) reach overbought levels, which indicate ending the bullish momentum on the near-term basis. VIP Trading Signals Performance...
Evening update for EURUSD -04-09-2025
Evening update for EURUSD -04-09-2025
Sep 4, 2025
The (EURUSD) declined in its last intraday trading, amid the continuation of the negative pressure that comes from its trading below EMA50, which formed a dynamic resistance that prevented its recovery in its last trading, with the emergence of the negative signals on the (RSI), after reaching overbought levels. VIP Trading Signals Performance by BestTradingSignal.com(August 2529, 2025) Get high-accuracy trading...
Euro moves in a positive zone before US jobs data
Euro moves in a positive zone before US jobs data
Sep 5, 2025
The euro rose in the European market on Friday against a basket of global currencies, moving into positive territory versus the US dollar, supported by the weaker performance of the greenback in the foreign exchange market, ahead of the release of US monthly jobs data. Consumer price data released this week highlighted persistent inflationary pressures on European Central Bank policymakers,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved