Hello everyone,
EURUSD 4H NEW FORECAST
The price of the euro against the dollar shows more bearish slope, reaching the outskirts of the 1.0860 level, and by looking closely at the chart, we find that the price has completed the formation of a double top pattern. We expect the price to push the price to continue the decline and break the aforementioned level to open the way to achieving more bearish slope during the coming sessions.
Therefore, the bearish bias will be likely for today, supported by a move below the moving average 50, taking into account that breaching 1.0900 will stop the current negative pressure and lead the price to recover again, targeting a test of the 1.0960 level initially.
The expected trading range for today is between support 1.0860 and resistance 1.0960
EURUSD 4H NEW FORECAST
The price of the euro against the dollar shows more bearish slope, reaching the outskirts of the 1.0860 level, and by looking closely at the chart, we find that the price has completed the formation of a double top pattern. We expect the price to push the price to continue the decline and break the aforementioned level to open the way to achieving more bearish slope during the coming sessions.
Therefore, the bearish bias will be likely for today, supported by a move below the moving average 50, taking into account that breaching 1.0900 will stop the current negative pressure and lead the price to recover again, targeting a test of the 1.0960 level initially.
The expected trading range for today is between support 1.0860 and resistance 1.0960
