financetom
Euro-Dollar
financetom
/
Forex
/
Euro-Dollar
/
The EURUSD price breaks the channel’s support line – Forecast today - 23-05-2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The EURUSD price breaks the channel’s support line – Forecast today - 23-05-2024
May 22, 2024 9:36 PM

EURUSD Price Analysis Expected Scenario The EURUSD price confirmed breaking the bullish channels support line after ending yesterday below it, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that has negative targets that surpass 1.0795$ to open the way to achieve additional decline that might reach 1.0714$ areas. Therefore, we will continue to suggest the bearish trend for the upcoming period, reminding you that breaching 1.0876$ will stop the negative scenario and lead the price to regain the main bullish track again. Expected Trading Range Between 1.0740$ support and 1.0890$ resistance

Trend Forecast: Bearish

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 suffers from negative pressure -Analysis-08-05-2025
EURUSD suffers from negative pressure -Analysis-08-05-2025
May 25, 2025
The EURUSD declined in its recent intraday trading, with the emergence of the negative signals on the (RSI), after reaching overbought levels previously, to surpass the support of its EMA50, which increases the negative pressure on its upcoming trading. The last decline led the price to settle again below 1.1340, which reinforces the negative scenario amid the dominance of the...
EURUSD suffers from negative pressures-Analysis-24-04-2025
EURUSD suffers from negative pressures-Analysis-24-04-2025
May 25, 2025
The EURUSD settled bearishly in its recent intraday trading, affected by the technical formation negativity, which was formed previously on the short- term basis, represented by the rising wedge pattern, which causes correctional pressures on the price. The continuation of the trading below EMA50, besides the emergence of weakness signals from the (RSI), after offloading some of the exaggerated oversold...
EURUSD surrenders to the negative pressure-Analysis-25-04-2025
EURUSD surrenders to the negative pressure-Analysis-25-04-2025
May 25, 2025
The EURUSD declined in its recent intraday trading, affected by the continuous negative pressure due to its stability below the EMA50, accompanied with a negative technical formation that completed previously on the short-term basis, which is the rising wedge pattern. Additionally, the emergence of negative overlapping signals on the (RSI), after reaching exaggerated overbought levels compared to the price movement,...
EURUSD moves in a limited range -Analysis-28-04-2025
EURUSD moves in a limited range -Analysis-28-04-2025
May 25, 2025
The EURUSD price settled on a slight decline in its recent intraday trading, due to the continuous negative pressure from its trading below EMA50, to keep moving in limited range of tight sideways trading, holding above 1.1310 support, taking advantage from the emergence of the positive signals on the (RSI). This came because of the domination of a bearish correctional...
Copyright 2023-2025 - www.financetom.com All Rights Reserved