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 >
Sharp Rise in the Unemployment Rate Amplifies September Rate Cut Odds
Sharp Rise in the Unemployment Rate Amplifies September Rate Cut Odds
Aug 2, 2024
NFP, USD, Yields and Gold Analysed A disappointing 114k jobs were added to the economy in June, less than the 175k expected and prior 179k in June.Average hourly earnings continue to ease but the unemployment rate rises to 4.3%USD continues to trend lower as do US treasuries while gold receives a boost Recommended by Richard Snow Get Your Free USD...
British Pound (GBP) Latest – Will the Bank of England Cut Rates This Week?
British Pound (GBP) Latest – Will the Bank of England Cut Rates This Week?
Jul 29, 2024
British Pound (GBP) Latest – Will the Bank of England Cut Rates This Week? Expectations are growing that the BoE will start cutting rates this week.GBP/USD may have already put in its medium-term high. Recommended by Nick Cawley Get Your Free GBP Forecast The Bank of England will release its latest monetary policy report this week with financial markets now...
​​​​​​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...
EUR/USD and USD/JPY – Latest Sentiment Analysis
EUR/USD and USD/JPY – Latest Sentiment Analysis
Aug 16, 2024
EUR/USD and USD/JPY – Latest Sentiment Analysis Recommended by Nick Cawley How to Trade EUR/USD EUR/USD Sentiment Analysis Current positioning: 32.46% of traders are net-longThe ratio of short to long traders is 2.08 to 1Changes in positioning: Net-long traders: Up 9.28% from yesterday, down 17.58% from last weekNet-short traders: Down 10.10% from yesterday, up 15.36% from last weekInterpretation: The analysis...
Copyright 2023-2025 - www.financetom.com All Rights Reserved