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 >
The EURUSD price tests the support – Forecast today - 27-06-2024
The EURUSD price tests the support – Forecast today - 27-06-2024
Jun 26, 2024
EURUSD Price Analysis Expected Scenario The EURUSD price faced negative pressure yesterday to test 1.0675$ support line, noticing that the price consolidated above this level to start rising by todays open, motivated by stochastic positivity, to keep the bullish trend valid for the upcoming period, waiting to breach 1.0750$ to activate the positive effect of the triple bottom pattern that...
British Pound (GBP/USD) Latest
British Pound (GBP/USD) Latest
Jul 10, 2024
British Pound (GBP/USD) Analysis and Charts K 2-year Gilt yields set to break below 4%.GBP/USD eyes Thursday’s US CPI release.Download the brand new Q3 British Pound Technical and Fundamental Forecasts below: Recommended by Nick Cawley Get Your Free GBP Forecast UK government borrowing costs are declining as investors anticipate lower interest rates. The 2-year gilt yield is approaching levels not...
US Dollar (DXY) Unchanged on Mixed US NFPs, Gold Grabs a Small Bid
US Dollar (DXY) Unchanged on Mixed US NFPs, Gold Grabs a Small Bid
Jul 5, 2024
US Dollar (DXY) Unchanged on Mixed US NFPs, Gold Grabs a Small Bid US dollar index little changed after US Jobs Report.Gold picks up a small bid.For all high impact data and event releases, see the real-time DailyFX Economic Calendar You can now download our complimentary Q3 US Forecast below: Recommended by Nick Cawley Get Your Free USD Forecast The...
​​​​​​FTSE 100 holds support, while Dax struggles, but Dow surges to fresh highs​​​​​​
​​​​​​FTSE 100 holds support, while Dax struggles, but Dow surges to fresh highs​​​​​​
Jul 17, 2024
FTSE 100, DAX 40, Dow Jones 30 ​​​FTSE 100 holds above support ​The index bounced from the 8150 support zone yesterday, halting any downside for the time being.​Recent gains have petered out around 8300, so a close above this is needed to revive a bullish view in the short term and open the way to the May highs. FTSE 100...
Copyright 2023-2025 - www.financetom.com All Rights Reserved