EURUSD bounces off resistance
Hello everyone,
EURUSD 4H NEW FORECAST
Expected scenario
The euro price against the dollar rebounded lower after testing the 1.0860 level, which formed a strong resistance against the price, which will push the price lower during the coming sessions, on its way to testing the 1.0800level as the next main station.
The bearish bias will be likely for today, supported by the current negativity of the Stochastic indicator.
Expected result
The expected result is a continuation of the bearish movement, which could lead to a visit to the 1.0800 and 1.0760 level as the next major support.
However, breaching the 1.0860 level will cancel the bearish scenario and may initiate a recovery phase, targeting gains starting from the 1.0912 area.
Trend forecast: bearish
EURUSD 4H NEW FORECAST
Expected scenario
The euro price against the dollar rebounded lower after testing the 1.0860 level, which formed a strong resistance against the price, which will push the price lower during the coming sessions, on its way to testing the 1.0800level as the next main station.
The bearish bias will be likely for today, supported by the current negativity of the Stochastic indicator.
Expected result
The expected result is a continuation of the bearish movement, which could lead to a visit to the 1.0800 and 1.0760 level as the next major support.
However, breaching the 1.0860 level will cancel the bearish scenario and may initiate a recovery phase, targeting gains starting from the 1.0912 area.
Trend forecast: bearish
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