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EURUSD Forecast: Bearish Sentiment Prevails

The EURUSD price analysis indicates a negative outlook for today, June 20, 2024. The currency pair traded narrowly yesterday due to the U.S. market holiday. Currently, the Stochastic indicator shows a negative overlap, suggesting potential downward momentum to reinforce the anticipated bearish trend in the near term. Initial targets for this decline are set at $1.0675, with further levels at $1.0600 identified as subsequent key support zones.

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Supporting this bearish view, the EMA50 continues to act as a reinforcing factor for the expected downtrend. This bearish scenario remains valid under the condition that the price remains below $1.0795.

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Expected Trading Range: The expected trading range is between support at $1.0660 and resistance at $1.0800.

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Trend Forecast: The overall trend forecast for EURUSD today is bearish, driven by current technical indicators and market conditions.

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