EUR/USD Technical Analysis

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EUR/USD Forecast: Bearish

Key Points:

  • Current Price: Hovering around 1.0830$ (as of March 27th, later data may exist)
  • Overall Trend: Bearish
  • Targets:
    • Initial: 1.0765$
    • Extended: 1.0645$
  • Confirmation of Downtrend: Sustained price action below 1.0860$
  • Resistance: 1.0890$
  • Support: 1.0740$
  • Trend Reversal: Break above 1.0860$ could signal a potential bullish reversal, with an initial target of 1.0960$.

Analysis:

The EUR/USD price is exhibiting a calm bearish bias, gradually moving away from the 1.0860$ level. This reinforces the expectation of a continuing downtrend with initial targets of 1.0765$ and potentially reaching 1.0645$ if the decline continues. The negative pressure from the EMA50 indicator further supports this bearish outlook.

Trading Range: The expected trading range for today is between 1.0740$ (support) and 1.0890$ (resistance).