We regularly post about EUR USD forecast and analyses
EUR/USD Daily Price Analysis
Market Overview
The EUR/USD pair has been in a consistent decline over the past week, unable to break the resistance level at 1.1200. The market closed last week near 1.0970. Notably, the price has fallen below the 500 EMA (Exponential Moving Average) and is currently trading below the 50 EMA, hovering just above the 200 EMA.
Four-Hour Timeframe Insights
In the four-hour timeframe, the price has dropped significantly below both the 50 EMA and the 200 EMA. Currently, these EMAs are positioned around 1.1080, which is acting as a medium-term resistance level. The price is currently at 1.0971.
One-Hour Timeframe Analysis
Looking at the one-hour timeframe, the 50 EMA is crossing below the 200 EMA, indicating a bearish sentiment in the market. The ongoing downward movement aligns with the 50 EMA, suggesting a continuation of the downtrend.
EUR to USD Forecast
We expect the price to maintain its downward trajectory, potentially declining toward the next support level at 1.0920 and possibly reaching 1.0854 in the upcoming sessions.
On the other hand, if the price manages to rise above 1.1090, it could indicate a shift from bearish to bullish momentum, with a possibility of climbing above 1.1150. However, this scenario seems unlikely at the moment.
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