The EURUSD price tests the resistance – Forecast today - 24-04-2024
Economies.com
2024-04-24 03:54AM UTC
EURUSD Price Analysis
EURUSD Scenario:
- The EURUSD price keeps rising to test the key resistance 1.0715$ now, which represents the neckline of the double top pattern that its signs appear on the chart, accompanied by stochastic loss for more positive momentum and witnessing clear overbought signals, which forms negative motive that we are waiting to push the price to decline again.
- Therefore, the bearish trend scenario will remain active for the upcoming period, which its targets begin by testing 1.0615$ level, noting that breaching 1.0715$ will stop the expected decline and lead the price to attempt to regain the main bullish trend again, to head towards visiting 1.0795$ initially.
Trading Range:
- The expected trading range for today is between 1.0620$ support and 1.0770$ resistance.
Trend forecast: Bearish
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