EURUSD 4H : OUTLOOK
EURUSD
New forecast
The euro versus the dollar pair continues to fluctuate between the pivotal levels represented by the support at 1.0550 and the resistance at 1.0631, which keeps our neutral position in place until now, and the price faces a conflict between technical factors that makes us wait for confirmation of the breach of one of the mentioned levels and then determine its next destination more precisely.
Therefore we expect the price will drop again from that resistance area if failure to stabilized above it 1.0631 .
We note that breaching the resistance will lead the price to conduct an upward correction targeting the 1.0660 and 1.0690 areas in the near term, while breaking the support will put pressure on the price to return to the main downward path and then achieve negative targets starting at 1.0496.
The expect range trading for today it will be between the resistance line 1.0631 and support line 1.0550.
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 euro versus the dollar pair continues to fluctuate between the pivotal levels represented by the support at 1.0550 and the resistance at 1.0631, which keeps our neutral position in place until now, and the price faces a conflict between technical factors that makes us wait for confirmation of the breach of one of the mentioned levels and then determine its next destination more precisely.
Therefore we expect the price will drop again from that resistance area if failure to stabilized above it 1.0631 .
We note that breaching the resistance will lead the price to conduct an upward correction targeting the 1.0660 and 1.0690 areas in the near term, while breaking the support will put pressure on the price to return to the main downward path and then achieve negative targets starting at 1.0496.
The expect range trading for today it will be between the resistance line 1.0631 and support line 1.0550.
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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