EURUSD attacks the resistance
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EURUSD 4H NEW FORECAST
The euro price traded against the dollar rebounded upward to attack the 1.0715 level and attempt to hold above it, providing signs of the start of recovery attempts in the immediate term, but we note that the Stochastic indicator is showing negative signs that may hinder the price’s mission to rise.
We prefer to stay neutral until the price confirms its position regarding the level of 1.0715, noting that confirmation of the breach will push the price towards visiting the 1.0765 level as a next positive target, while consolidation below it will pressure the price to decline again, targeting the 1.0621 areas initially.
Between support at 1.0650 and resistance at 1.0800.
EURUSD 4H NEW FORECAST
The euro price traded against the dollar rebounded upward to attack the 1.0715 level and attempt to hold above it, providing signs of the start of recovery attempts in the immediate term, but we note that the Stochastic indicator is showing negative signs that may hinder the price’s mission to rise.
We prefer to stay neutral until the price confirms its position regarding the level of 1.0715, noting that confirmation of the breach will push the price towards visiting the 1.0765 level as a next positive target, while consolidation below it will pressure the price to decline again, targeting the 1.0621 areas initially.
Between support at 1.0650 and resistance at 1.0800.
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