EURUSD 4H : Support further rise
EURUSD
New forecast
The EUR/USD pair crossed the resistance of the descending channel and settled above it, providing signs of an attempt to start an upward correction in the intraday term, but we notice that the price is returning to providing negative trades, heading towards testing the breached resistance, which is now turning into support at 1.0550.
The conflict between technical factors makes us prefer to remain neutral until the price confirms crossing one of the trend keys represented by the support at 1.0550 and the resistance at 1.0631, while breaching the resistance at 1.0631 represents the key to starting the upward correction, whose first target is at 1.0660 and 1.0690. Noting that breaking this support will put pressure on the price to resume the main bearish trend, whose next main target reaches 1.0496.
The expect range trading for today it will be between the resistance line 1.0631 and support line 1.0550.
Additionally ,Today News will affect the market .
resistance line : 1.0612 , 1.0631
support line : 1.0562 , 1.0550
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The EUR/USD pair crossed the resistance of the descending channel and settled above it, providing signs of an attempt to start an upward correction in the intraday term, but we notice that the price is returning to providing negative trades, heading towards testing the breached resistance, which is now turning into support at 1.0550.
The conflict between technical factors makes us prefer to remain neutral until the price confirms crossing one of the trend keys represented by the support at 1.0550 and the resistance at 1.0631, while breaching the resistance at 1.0631 represents the key to starting the upward correction, whose first target is at 1.0660 and 1.0690. Noting that breaking this support will put pressure on the price to resume the main bearish trend, whose next main target reaches 1.0496.
The expect range trading for today it will be between the resistance line 1.0631 and support line 1.0550.
Additionally ,Today News will affect the market .
resistance line : 1.0612 , 1.0631
support line : 1.0562 , 1.0550
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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