The EURUSD price loses momentum – Forecast today - 26-03-2024
Economies.com
2024-03-26 02:01AM UTC
EURUSD Price Analysis
- The EURUSD price settles at the broken neckline of the double top pattern, maintaining stability below it.
- This situation keeps the negative effect of the pattern active, waiting to resume the expected bearish trend on the intraday basis.
- Our first target is located at 1.0765$.
- Stochastic loses its positive momentum, reaching overbought areas, indicating a potential decline in the price.
- The mentioned pattern has negative targets, surpassing the mentioned level to reach 1.0690$.
- We continue to suggest the bearish trend unless the price rallies to breach 1.0860$ and holds above it.
Expected Trading Range for Today:
- Support: 1.0720$
- Resistance: 1.0870$
Trend Forecast: Bearish
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