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The EURUSD price presses on the support – Forecast today - 17-05-2024
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The EURUSD price presses on the support – Forecast today - 17-05-2024
May 16, 2024 9:28 PM

Price Analysis for EURUSD Expected Scenario The EURUSD price continues to trade negatively, as it presses on the bullish channels support line that appears on the chart, which hints heading to continue the decline in the upcoming sessions, on its way to test 1.0795$ mainly. Therefore, we expect to witness negative trades today, being aware that it is important to monitor the price at the key levels represented by 1.0795$ support and 1.0875$ resistance, as breaking this level represents the key to extend the bearish wave towards 1.0715$ areas, while breaching the resistance will lead the price to regain the main bullish track and achieve new gains that reach 1.0975$. Expected Trading Range Between 1.0780$ support and 1.0935$ resistance.

Trend Forecast: Bearish

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