EURUSD 4H : lost his positive resolve
Updated
EURUSD
New forecast
The price perfectly fulfills my last idea and price reached to our bullish target +25 pip .
The euro/dollar pair traded positively yesterday, reaching the level of 1.0562, and we notice that the price has clearly lost its positive momentum, and is facing good resistance formed by the 50 moving average at the aforementioned level, which makes us likely to witness a bearish rebound during the coming sessions, heading towards achieving negative goals that begin At 1.0500 and extending to 1.0462.
Therefore, a bearish bias will be likely for today, relying on trading within the main bearish channel that appears on the chart, keeping in mind that breaching 1.0562 will stop the expected decline and lead the price to begin a correction.
The expect range trading for today it will be between the resistance line 1.0562 and support line 1.0496.
Additionally ,Today News will affect the market .
resistance line : 1.0550 , 1.0588
support line : 1.0496, 1.0462
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 price perfectly fulfills my last idea and price reached to our bullish target +25 pip .
The euro/dollar pair traded positively yesterday, reaching the level of 1.0562, and we notice that the price has clearly lost its positive momentum, and is facing good resistance formed by the 50 moving average at the aforementioned level, which makes us likely to witness a bearish rebound during the coming sessions, heading towards achieving negative goals that begin At 1.0500 and extending to 1.0462.
Therefore, a bearish bias will be likely for today, relying on trading within the main bearish channel that appears on the chart, keeping in mind that breaching 1.0562 will stop the expected decline and lead the price to begin a correction.
The expect range trading for today it will be between the resistance line 1.0562 and support line 1.0496.
Additionally ,Today News will affect the market .
resistance line : 1.0550 , 1.0588
support line : 1.0496, 1.0462
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: stop reached
EURUSD UPDATE
As we mentioned stabilized above 1.0562 will end the bearish trend
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