EURUSD 4H Midday update
Hello traders,The EUR/USD pair faced a strong barrier at the resistance of the ascending corrective channel, to bounce downwards and test the pivotal support floor of 1.0640, affected by the negativity of the Stochastic indicator. As we mentioned this morning, the price needs to consolidate above this level for the bullish trend scenario to remain effective, with its next target reaching 1.0694 .
On the other hand, you should be aware that continuing the negative pressure and breaking 1.0640 will push the price to decline again and head towards 1.0573 mainly.
The general trend expected for today: bullish
Pivot Price: 1.0640
resistance line: 1.0694 ,1.0735 ,1.0792
support line: 1.0573 ,1.0519,1.0462
timeframe:4H
On the other hand, you should be aware that continuing the negative pressure and breaking 1.0640 will push the price to decline again and head towards 1.0573 mainly.
The general trend expected for today: bullish
Pivot Price: 1.0640
resistance line: 1.0694 ,1.0735 ,1.0792
support line: 1.0573 ,1.0519,1.0462
timeframe:4H
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