EURUSD 4H : Try to test the support zone
EURUSD
New forecast
Trading in the euro/dollar pair stabilizes around the moving average 50 after the strong decline witnessed yesterday, which constitutes good support for the price and protects it from incurring further losses, accompanied by the appearance of clear signs of saturation in selling, which supports the chances of an upward rebound and an attempt to resume the upward corrective trend from new.
Therefore, we expect to witness positive trading during the coming sessions, but at first the price will try to reach to the support area and then will rise up , it will rise and the targets start at 1.0612 to confirm the push towards 1.0632 and reach 1.0700 as the next positive station, keeping in mind that breaking 1.0540 will stop the bullish corrective scenario It pushes the price to return to the main downward path again.
The expect range trading for today it will be between the resistance line 1.0632 and support line 1.0540.
Additionally ,Today News will affect the market .
resistance line : 1.0612 , 1.0632
support line : 1.0562 . 1.0540
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
Trading in the euro/dollar pair stabilizes around the moving average 50 after the strong decline witnessed yesterday, which constitutes good support for the price and protects it from incurring further losses, accompanied by the appearance of clear signs of saturation in selling, which supports the chances of an upward rebound and an attempt to resume the upward corrective trend from new.
Therefore, we expect to witness positive trading during the coming sessions, but at first the price will try to reach to the support area and then will rise up , it will rise and the targets start at 1.0612 to confirm the push towards 1.0632 and reach 1.0700 as the next positive station, keeping in mind that breaking 1.0540 will stop the bullish corrective scenario It pushes the price to return to the main downward path again.
The expect range trading for today it will be between the resistance line 1.0632 and support line 1.0540.
Additionally ,Today News will affect the market .
resistance line : 1.0612 , 1.0632
support line : 1.0562 . 1.0540
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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