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EURUSD 4H : Under sell pressure

EURUSD

New forecast

The euro/dollar pair continues to fluctuate around the 1.0755 level, and was unable to confirm its break, as we wait for a break of this support to confirm the next direction more clearly. Remembering that breaking the support will put pressure on the price to incur losses, mainly targeting the 1.0686 and 1.0665 areas.

Therefore the downward scenario will be remain valid and effective during coming period supported by moving average 50 that is continue to support the price to drop, but to confirm the bearish trend should stable under support line 1.0755 level and then our negative target will be activate , taking into account that stabilized above 1.0836 level will postponed the bearish waves .

The expect range trading for today it will be between the resistance line 1.0836 and support line 1.0665.

resistance line : 1.0836 , 1.0877
support line : 1.0755 , 1.0665

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