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 >
Forecast update for EURUSD -20-06-2025
Forecast update for EURUSD -20-06-2025
Jun 20, 2025
The price of (EURUSD) settled with a rise in its recent intraday levels, supported by its trading above EMA50, and under the dominance of the main bullish trend on the short-term basis and its trading alongside a bias line, on the other hand, the (RSI) reach overbought levels exaggeratedly compared to the price move, which might decelerate the upcoming gains...
Forecast update for EURUSD -18-06-2025
Forecast update for EURUSD -18-06-2025
Jun 18, 2025
The price of (EURUSD) settled with slight gains in its recent intraday levels, taking advantage of the positive momentum that was gained after its lean on the support of its EMA50, accompanied with the beginning of the positive signals on the (RSI), after reaching oversold levels, amid the dominance of the main bullish trend on the short-term basis and its...
Forecast update for EURUSD -26-06-2025
Forecast update for EURUSD -26-06-2025
Jun 26, 2025
The price of (EURUSD) settled high in its recent intraday levels, after reaching our morning target at 1,1745, amid the dominance of the main bullish trend on the short-term basis and its trading alongside bias line, on the other hand, we notice the beginning of the negative signals on the (RSI), after reaching the overbought levels, forming a threshold against...
Evening update for EURUSD -25-06-2025
Evening update for EURUSD -25-06-2025
Jun 25, 2025
The (EURUSD) rose in its last intraday trading, after its success I gathering positive momentum as it succeeded to offload its clear overbought conditions on the (RSI), to confirm breaching the critical resistance level at 1.1600, amid the dominance of the main bullish trend on the short-term basis and its trading alongside a bias line. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved