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EURUSD Price Attempts to Recover – Forecast for July 3, 2024

EURUSD Price Analysis

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Current Scenario

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EURUSD has shown renewed positive momentum, approaching the 1.0760$ level influenced by stochastic indicators. However, the indicator now exhibits signs of overbought conditions, suggesting a potential reversal to resume a bearish bias.

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Bearish Outlook

If the price breaks below 1.0720$, it could initiate a downward trend targeting 1.0675$ followed by 1.0600$ as key support levels. Conversely, a sustained rise and a breach above 1.0760$ would halt the anticipated decline and could lead to a bullish wave with an initial target at 1.0840$.

Expected Trading Range

  • Support: 1.0660$
  • Resistance: 1.0800$

Trend Forecast: Bearish

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