financetom
Euro-Dollar
financetom
/
Forex
/
Euro-Dollar
/
The EURUSD price tests the channel’s support line – Forecast today - 05-06-2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The EURUSD price tests the channel’s support line – Forecast today - 05-06-2024
Jun 4, 2024 9:42 PM

EURUSD Price Analysis Expected Scenario The EURUSD price tested the bullish channels support line and attempted to break it yesterday, but it closed the daily candlestick above it, to keep the bullish trend scenario valid and active for the upcoming period, waiting to resume the bullish wave that its next target located at 1.1015$. Stochastic overlaps positively now to motivate the price to provide positive trades in the upcoming sessions, noting that breaking 1.0865$ will stop the expected rise and push the price to start bearish correction on the intraday basis. Expected Trading Range Between 1.0830$ support and 1.0970$ resistance.

Trend Forecast: Bullish

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 Relief Short-Lived as Secular Dollar Bull-Trend has Further to Run
Euro Relief Short-Lived as Secular Dollar Bull-Trend has Further to Run
Mar 22, 2024
The euro to dollar exchange rate (EUR/USD) has powered higher bringing to end the relentless selling pressure.USD bull trend to extend in line with its longer-term secular trends - roughly eight years up and eight years down on average since the 1970s“Corrective EUR gains in the next few weeks (to...
Euro Exchange Rate Forecast to Hit Parity v US Dollar
Euro Exchange Rate Forecast to Hit Parity v US Dollar
Mar 22, 2024
The euro dollar exchange rate (EURUSD) has been pushed sharply lower amidst a tsunami of dollar buying.The euro has had a tough week and hit new lows on the back of further details concerning the European Central Bank (ECB) quantitative easing programme. This helped to buoy sterling and boost a...
Japanization will See a Trillion Euros Leave the Eurozone say Deutsche Bank
Japanization will See a Trillion Euros Leave the Eurozone say Deutsche Bank
Mar 22, 2024
The outlook for the euro exchange rate complex (EUR) remains overwhelmingly negative says a new note issued by a leading Deutsche Bank analyst which forsees investor money draining out of the single-currency market.With the euro being battered across the board we continue to ask the question - just how low...
DAX Surge Keeps EUR Outlook Weak as Hedging Demand Grows
DAX Surge Keeps EUR Outlook Weak as Hedging Demand Grows
Mar 22, 2024
With Eurozone stock markets powering higher we hear the outlook for the euro exchange rate complex (EUR) will continue to be undermined as investor demand for currency hedges remains elevated.“As the euro weakens further and oil prices stay subdued the case for a robust euro recovery grows stronger by the...
Copyright 2023-2024 - www.financetom.com All Rights Reserved