EURUSD 4H : OUTLOOK
EURUSD
New forecast
The EUR/USD pair found strong resistance at the 1.0616 level, showing some slight bearish bias and attacking the support level 1.0554,so breaching that level will put the price under sell pressure and targeting the negative stations , 1.0500 and 1.0440.
Therefore, the downward trend scenario will remain effective for the coming period, and a breach of 1.0554 is required to facilitate the task of the proposed decline, keeping in mind that breaking 1.0616 will stop the expected downward tendency and put pressure on the price to return to the upward path again and will try to retest the broken previous areas.
The expect range trading for today it will be between the resistance line 1.0616 and support line 1.0554.
Additionally ,Today News will affect the market .
support line : 1.0554 , 1.0500
resistance line : 1.0616 , 1.0663
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 found strong resistance at the 1.0616 level, showing some slight bearish bias and attacking the support level 1.0554,so breaching that level will put the price under sell pressure and targeting the negative stations , 1.0500 and 1.0440.
Therefore, the downward trend scenario will remain effective for the coming period, and a breach of 1.0554 is required to facilitate the task of the proposed decline, keeping in mind that breaking 1.0616 will stop the expected downward tendency and put pressure on the price to return to the upward path again and will try to retest the broken previous areas.
The expect range trading for today it will be between the resistance line 1.0616 and support line 1.0554.
Additionally ,Today News will affect the market .
support line : 1.0554 , 1.0500
resistance line : 1.0616 , 1.0663
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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