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The EURUSD price tests the resistance – Forecast today - 20-05-2024
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The EURUSD price tests the resistance – Forecast today - 20-05-2024
May 19, 2024 9:29 PM

EURUSD Price Analysis Expected Scenario The EURUSD price has bounced bullishly to test the key resistance at 1.0876$. Currently consolidating below this level, accompanied by stochastic loss in positive momentum and reaching overbought areas. We anticipate a resumption of bearish bias to test 1.0795$, representing the first negative station. Continuation of the bearish trend is expected, with a breach of 1.0875$ signaling a halt to the decline and potential continuation of the rise within the bullish channel on the chart, targeting 1.0975$ areas primarily. Expected Trading Range Between 1.0790$ support and 1.0940$ resistance.

Trend Forecast: Bearish

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