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 >
Evening update for EURUSD -12-09-2025
Evening update for EURUSD -12-09-2025
Sep 12, 2025
The (EURUSD) rose in its last intraday trading, due to its lean on the support of EMA50, gaining positive momentum that intensified with its lean on the bullish trend line on the short-term basis, preparing to attack the stubborn resistance level at 1.1730, after offloading its overbought conditions on the (RSI), opening the way for achieving more of the gains....
Forecast update for EURUSD -12-09-2025.
Forecast update for EURUSD -12-09-2025.
Sep 12, 2025
The price of (EURUSD) witnessed mixed trading in its last intraday levels, amid the pairs attempts to breach the stubborn resistance at 1.1730, supported by its continuous trading above EMA50, under the dominance of the bullish trend on the short-term basis and its trading alongside a bias line, on the other hand, we notice the emergence of the negative signals...
Evening update for EURUSD -11-09-2025
Evening update for EURUSD -11-09-2025
Sep 11, 2025
The (EURUSD) soared in its last intraday trading, due to its lean on bullish trend line on the short-term basis, gaining bullish momentum that helped it to achieve these strong gains, taking advantage of the positive pressure that comes from its trading above EMA50, attacking the key resistance at 1.1730,this resistance represents our last suggested target, besides the emergence of...
ECB holds interest rates for second meeting in a row
ECB holds interest rates for second meeting in a row
Sep 11, 2025
The European Central Bank (ECB) announced its interest rate decision on Thursday at the conclusion of its September 1011 meeting, leaving rates unchanged at 2.15% the lowest level since October 2022 in line with most global market expectations, marking a second consecutive hold. Policymakers at the ECB believe there is no need for further rate cuts to achieve the 2%...
Copyright 2023-2026 - www.financetom.com All Rights Reserved